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Press Release UNISPHERE NETWORKS AND BROADSOFT ANNOUNCE MUTUAL TERMINATION OF MERGER AGREEMENTWESTFORD, MA and GAITHERSBURG, MD, June 27, 2001 — Unisphere Networks, Inc., and BroadSoft, Inc., today announced that, due to current market conditions, they have mutually agreed to terminate their proposed Agreement and Plan of Merger. The companies, instead, will continue to work closely together as strategic partners in joint sales and marketing opportunities with leading carriers and communications service providers. "While we are disappointed that market conditions prevent the merger from proceeding as planned, this development does not change Unisphere's strategic focus," said James Dolce, president and CEO of Unisphere Networks. "Unisphere will continue to offer its customers an enhanced portfolio of integrated IP infrastructure solutions to enable next-generation voice and broadband data services," said Dolce. "BroadSoft's software architecture supports a rich set of web-enabled enhanced telephony applications that complement Unisphere's product offerings and make BroadSoft an ideal partner for Unisphere." "We, too, are disappointed that the current market conditions do not support the merger between BroadSoft and Unisphere," said Michael Tessler, president and CEO of BroadSoft. "Over the past few months, BroadSoft has gained new customers and partners that are validating our value proposition. We will continue delivering service providers our industry-leading enhanced telephony platform and services that enable them to generate new revenue without adding significant capital expenditures. Additionally, we will continue to work with Unisphere as a key partner, leveraging our product strengths to offer carriers and service providers the solutions they require in providing added value to their customers." ABOUT BROADSOFT BroadSoft, Inc., is the leading provider of service delivery systems for next-generation telephony services. BroadWorks, the company's flagship product, allows integrated communications providers (ICPs) to rapidly and economically design and deploy web-enabled enhanced telephony services to their customers. BroadSoft has received extensive industry recognition including "Hot Start-Up" awards by America's Network and Telecommunications magazines, two of the leading telecommunications industry publications. BroadWorks was also recognized as Product of the Year by Communications Solutions magazine. BroadSoft is located near Washington, DC, in Gaithersburg, Maryland, and also maintains a research and development facility in Montreal, Canada. Additional information can be found at www.broadsoft.com. ABOUT UNISPHERE NETWORKS Unisphere Networks, Inc. is a provider of data and voice platforms for service providers. Unisphere Networks' edge routers, service mediation switch, and network and service management solutions help service providers create and deliver innovative IP solutions. Unisphere Networks also offers service providers technical expertise and professional services in order to deploy and maintain next-generation networking solutions. For more information, please visit Unisphere Networks at www.unispherenetworks.com. For further information contact: BroadSoft # # # Unisphere Networks is a trademark of Unisphere Networks, Inc. BroadSoft and BroadWorks are trademarks of BroadSoft, Inc. All other company and product names are trademarks or registered trademarks of their respective owners. |
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