Kestrel Solutions Inc. and TeON Optical Networks Inc. have signed a letter of intent for Kestrel to acquire TeON. Kestrel and TeON have been developing a common technology for a new generation of advanced optical networking transport equipment. Both companies believe that a combination of their technical and business resources will enable them to innovate more rapidly and be more effective in the market.
Effective immediately, Marty Kaplan has assumed the role of interim chief executive officer of Kestrel and as a director of the firm. Kaplan is currently the president and CEO of TeON.
Brian Jervis has resigned as president and CEO of Kestrel to accept a new career opportunity. John Barter has resigned as chief financial officer for personal reasons.
Kestrel Solutions, Inc. has created a patent-pending multiplexing technique, Optical FDM, designed to solve the bandwidth crunch through a unique combination of proven technologies. Headquartered in Mountain View, CA, Kestrel's Web site is http://www.kestrelsolutions.com.
TeON Optical Networks is an optical transport systems company that provides systems and products for the transport of voice, video, and packet traffic over wide-area and metropolitan-area networks. Formed in December 2000, TeON is the ninth launch for MILCOM Technologies (http://www.milcomtech.com). For more information about TeON or MILCOM, visit the Web site at http://www.teon.com.