C-COR.net Acquires ACSI Assests, Adopts Worldbridge Broadband As Subsidiary

Broadband product and service provider C-COR.net (State College, PA) made two announcements last week that strengthen the company's service offerings.

In cash deal worth $5 million, C-COR.net and Advanced Communications Services Inc. (ACSI; Riverside, CA) entered into a definitive agreement under which a subsidiary of C-COR.net will acquire substantially all of the assets of ACSI. C-COR.net will not assume any material liabilities of ACSI. The acquisition is expected to close in the quarter ending March 2000, subject to satisfaction of certain conditions. The purchase price, which will be paid in cash, is under $5 million.

ACSI provides engineering, design and technical services, and alternative solutions for cable hybrid fiber coax (HFC) system rebuilds and upgrades, primarily to large broadband cable operators. Services offered by ACSI include return path activation and balancing; full system sweeping forward and return; field engineering and strand mapping; and RF, fiber optic and telephony network design. C-COR.net intends to offer employment to nearly all ACSI employees.

In a related deal announced concurrently with the ACSI purchase, Worldbridge Broadband Services, Inc. (Lakewood, CO) will become a wholly-owned subsidiary of C-COR.net. Under the merger agreement, C-COR.net will issue approximately 1,600,000 shares of its common stock to Worldbridge Broadband Services shareholders and convert options to acquire Worldbridge stock into options to acquire approximately 200,000 shares of C-COR.net common stock. The merger is expected to see completion in the quarter ending March 2000.

Worldbridge Broadband Services provides full-system field operations outsourcing for a client base of primarily broadband cable operators, but which also spans the competitive local exchange carrier (CLEC), telecommunications hardware, and packet-based carrier industries.

C-COR.net is a developer and global supplier of RF and advanced AM fiber optic distribution electronics for two-way HFC networks. C-COR.net's newest fiber optic products, the Mux Node and Mini Node, facilitate evolving fiber-rich architectures to deliver analog video, digital video, high-speed data and telephone applications.