Current Report — Form 8-K
Filing Table of Contents
Document/Exhibit Description Pages Size
1: 8-K Current Report 4 13K
2: EX-2.1 Plan of Acquisition, Reorganization, Arrangement, 76 332K
Liquidation or Succession
3: EX-99.1 Miscellaneous Exhibit 3 18K
4: EX-99.2 Miscellaneous Exhibit 2± 10K
EX-99.2 — Miscellaneous Exhibit
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EXHIBIT 99.2
CONTACTS
Scott St. Clair Lauren Felice
Netergy Networks Ruder Finn
(408) 654-0998 (212) 593-6370
scott.stclair@netergynet.com felicel@ruderfinn.com
NETERGY NETWORKS SELLS ITS 8X8 VIDEO TRANSMISSION
SYSTEM PRODUCT LINE TO INTERLOGIX
SANTA CLARA, Calif. -- May 22, 2000 -- Netergy Networks, Inc. (NasdaqNM:NTRG)
announced today that Interlogix, Inc. has acquired the line of video
transmission system products that Netergy Networks' markets under the 8x8 brand
name. Under the terms of the sale, Interlogix will pay Netergy Networks $5.5
million, subject to subsequent adjustments, for the assets connected with the
product line and a license for the associated technology.
The 8x8 product line allows for the transmission of security video and audio
signals over standard phone lines or high-speed ISDN lines. The product line
will be marketed by Kalatel, an Interlogix operating unit, under the Kalatel
brand name. Kalatel is a leading manufacturer of advanced digital video
transmission equipment and closed circuit television products.
Ken Boyda, CEO and President of Interlogix, stated that "Interlogix has
extensive integrated technological capabilities. The acquisition of the 8x8
product line helps us achieve our goal of offering broad product lines in all
key markets that we serve and makes it easier for security-product dealers to
construct integrated security systems."
"The combination of Kalatel's CCTV products and the 8x8 video transmission
technology will provide customers with more effective and efficient security
solutions," said Jonathan Foster, Vice President of Corporate Development for
Netergy Networks.
ABOUT NETERGY NETWORKS
Formerly known as 8x8, Netergy Networks is a leading provider of highly
integrated IP telephony solutions to telephone service providers and
telecommunication equipment manufacturers. Netergy Networks' IP telephony
solutions include network software and systems as well as embedded technology.
The company is based in Santa Clara, California, and has offices in France and
the United Kingdom. For more information, visit Netergy Networks' web site at
www.netergynet.com.
# # #
Matters set forth in this press release could differ materially from those
discussed, implied or forecasted. In particular, the total anticipated
consideration to be received by 8x8, Inc., dba Netergy Networks, Inc. (the
Company), of $5.5 million is subject to future adjustments, which could
materially decrease the consideration the Company receives. Additionally, the
Company does not expect to be able to generate revenues from existing product
lines to compensate immediately for the loss of video transmission product line
revenues. Further information on other factors that could affect the Company's
actual results are included in the Company's Report on Form 10-Q for the quarter
ended December 31, 1999, which is on file with the Securities and Exchange
Commission. The Company assumes no obligation to revise or update any
forward-looking statements contained in this press release.
8x8 is a registered trademark of Netergy Networks, Inc. All other trademarks are
the property of their respective owners.
Dates Referenced Herein and Documents Incorporated by Reference
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