DZS agrees Keymile acquisition to expand broadband access portfolio
Dasan Zhone Solutions (DZS) has agreed to acquire Keymile in a strategic move to expand its portfolio of broadband access solutions, including optical fibre and copper access technologies, Ethernet switching, and passive optical LAN.
Once the transaction is complete, Keymile will become part of DZS, which is headquartered in the US and listed on NASDAQ. In 2017, the company posted sales of $250m with a workforce of over 650. After the transaction closes, Keymile’s headquarters and production facilities are to stay in Hanover, Germany.
Commenting on the agreement, Yung Kim, CEO of DZS in Oakland, California said: ‘German-made offerings from Keymile will provide additional choice as part of a broader portfolio that includes leading fibre solutions, positioning DZS to further strengthen and develop our position in the German and European markets.’
Added Lothar Schwemm, KEYMILE’s CEO: ‘As a part of DZS we’ll be able to even better respond to our customers’ requirements and offer them a much broader portfolio of solutions. Our customers will, of course, continue to benefit from our strengths as a German manufacturer in future.’
The transaction is expected to complete in the next few weeks.