Radisys Announces New Closing Date for Acquisition by Reliance Industries
HILLSBORO, Ore.--(BUSINESS WIRE)--Dec 7, 2018--Radisys Corporation (NASDAQ: RSYS), a global leader of open telecom solutions, today announced that, at the request of Reliance Industries (RIL), Radisys and RIL have agreed to extend the closing date to a date no later than December 14, 2018 and the parties continue to work to close the transaction as promptly as practicable on or before that date. In connection therewith, RIL also acknowledged that Radisys has satisfied all conditions to RIL’s obligations to close the transaction.
Radisys (NASDAQ: RSYS), a global leader in open telecom solutions, enables service providers to drive disruption with new open architecture business models. Radisys’ innovative disaggregated and virtualized enabling technology solutions leverage open reference architectures and standards, combined with open software and hardware to power business transformation for the telecom industry, while its world-class services organization delivers systems integration expertise necessary to solve communications and content providers’ complex deployment challenges. For more information, visit www.Radisys.com.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this communication may constitute “forward-looking statements.” Forward-looking statements can usually be identified by the use of words such as “expect,” “intend,” “may,” “should,” “will” and other expressions which indicate future events or trends. Such statements include statements as to the expected timing of completion of the merger and management plans relating to the transaction.
These forward-looking statements are based upon certain expectations and assumptions and are subject to risks and uncertainties. Actual results could differ materially from those anticipated as a result of various factors, including that RIL may be unable to resolve its funding issues; closing the transaction may involve unexpected costs, liabilities or additional delays; revenues following the transaction may be lower than expected; operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers, clients or suppliers) may be greater than expected; uncertainties surrounding the transaction; the outcome of any legal proceedings related to the transaction; Radisys may be adversely affected by other economic, business, and/or competitive factors; risks that the delay in closing the pending transaction disrupts current plans and operations; the retention of key employees of Radisys; the difficulty in obtaining and enforcing court orders in India, other risks to consummation of the transaction, including circumstances that could give rise to the termination of the merger agreement and the risk that the transaction will not be consummated within the expected time period or at all; and the other risks described from time to time in Radisys’ reports filed with the Securities and Exchange Commission (the “SEC”) under the heading “Risk Factors,” including the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017, subsequent Quarterly Reports on Form 10-Q and in other of Radisys’ filings with the SEC.
All forward-looking statements are qualified by, and should be considered in conjunction with, such cautionary statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which such statements were made. Except as required by applicable law, Radisys undertakes no obligation to update forward-looking statements to reflect events or circumstances arising after such date.
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CONTACT: Company Contact
Jon Wilson, 503-615-1685
Chief Financial Officer
Brett L. Perry, 214-272-0070
KEYWORD: UNITED STATES NORTH AMERICA OREGON
INDUSTRY KEYWORD: TECHNOLOGY HARDWARE SOFTWARE TELECOMMUNICATIONS
SOURCE: Radisys Corporation
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PUB: 12/07/2018 01:10 PM/DISC: 12/07/2018 01:10 PM