Sonus, Genband update combination progress

|About: Sonus Networks, Inc. (SONS)|By:, SA News Editor

Sonus Networks (NASDAQ:SONS) and Genband update the progress on the proposed combination.

Sonus will hold a special stockholder meeting on October 26 to vote on the combination. If approved, the transaction will close in Q4.   

The C-suite of the combined company will include CEO Raymond Dolan, CFO Daryl Raiford, and CTO Kevin Riley. 

The companies had agreed to a 50-50 merger in May with the combined company having an enterprise value around $745M.

Sonus shares are down 0.27% premarket.    

Previously: Sonus Networks, Genband agree to 50-50 merger (May 23)