ADTRAN Holdings, Inc. - ADTN STOCK NEWS

ADTRAN, a leader in multi-gigabit fiber solutions, has announced that StratusIQ, an ISP in Colorado Springs, will utilize the ADTRAN 10G fiber access platform with Combo PON technology. This partnership aims to enhance StratusIQ's broadband offerings, providing up to 10Gbps services to its customers and supporting network expansion in a competitive market. StratusIQ plans to leverage ADTRAN’s technology to improve its service efficiency and meet rising demand for symmetrical multi-gigabit internet as local businesses and residents increasingly adopt cloud services.

ADTRAN has achieved over 300% Year-over-Year market share growth in XGS-PON and aims to strengthen its 10G fiber leadership in North America and Europe. The company ranks #2 and #3 for XGS-PON OLT shipments in these regions, with a significant adoption of its SD-Access platform, now comprising 50% of its deployed OLT ports. ADTRAN reports a remarkable 700% YoY OLT growth in EMEA and has seen its access platforms selected by nearly 100 U.S. networks in 2021. With federal funding opportunities, it is well-positioned to aid in closing the digital divide.

ADTRAN reported its fourth quarter 2021 results with a revenue of $154.2 million but incurred a net loss of $4.2 million, translating to a loss of $0.09 per share. Non-GAAP earnings were $4.7 million or $0.10 per share, reflecting strong demand with record bookings. Product revenue soared 48% year-over-year for fiber access and 72% for residential Wi-Fi. The Board declared a cash dividend of $0.09 per share, payable on March 3, 2022.

ADTRAN, Inc. (NASDAQ:ADTN) is assisting Cookson Hills Electric Cooperative (CHEC) in constructing a fiber broadband network in rural Oklahoma to enhance internet accessibility for underserved communities. Awarded $4 million from the Rural Digital Opportunity Fund, CHEC's deployment will enable scalable, reliable, and affordable internet solutions. This initiative aims to improve connectivity for families and businesses, facilitating remote work and efficient operations. ADTRAN's 10G fiber access platform and cloud-managed Wi-Fi solutions will support the network, addressing critical connectivity needs.

ADTRAN, Inc. announced that over 60% of ADVA Optical Networking SE shares have accepted a takeover offer from Acorn HoldCo, exceeding the minimum threshold. The initial acceptance period ended on January 26, 2022. Chairman and CEO Tom Stanton expressed confidence in securing necessary foreign direct investment approvals. An additional acceptance period runs from February 1 to February 14, 2022. The final exchange offer results will be published on January 31, 2022. The offer is subject to regulatory approvals.

ADTRAN announced a significant regulatory milestone regarding its business combination with ADVA Networking SE. The companies received a notice from the Committee on Foreign Investment in the United States (CFIUS), confirming that the transaction is not subject to CFIUS jurisdiction. This allows them to meet the requirements under the Business Combination Agreement. The acceptance period for ADVA's shareholder tender offer ends at midnight CET on January 26, 2022.

ADTRAN, Inc. (NASDAQ: ADTN) will release its fourth quarter 2021 financial results after market close on February 2, 2022. A conference call is scheduled for February 3, 2022 at 9:30 a.m. Central Time to discuss the results. Investors can access the event via ADTRAN’s Investor Relations site. A replay and transcript will be available afterwards for at least 12 months. ADTRAN focuses on connecting communications service providers globally, optimizing technology infrastructures for future networking.

ADTRAN, Inc. (NASDAQ: ADTN) has announced that its stockholders overwhelmingly approved the business combination with ADVA Optical Networking SE. In a Special Meeting, 85% of ADTRAN's shares were represented, with over 99% voting in favor. The transaction has already received unanimous support from ADTRAN's Board, as well as from ADVA's management and supervisory boards, and major shareholder Egora, representing 13.7% of ADVA's outstanding shares. The next key milestone is the tender acceptance period closing on January 12, 2022, requiring at least 70% of ADVA shares to be tendered.

ADTRAN, Inc. (NASDAQ: ADTN) announced a quorum for its Special Meeting of Stockholders on January 6, 2022, to discuss its business combination with ADVA Optical Networking SE. A significant majority of stockholders have already voted in favor of this transaction, indicating strong support. ADTRAN believes this merger will create a leading global provider of fiber networking solutions. ADVA shareholders are encouraged to tender their shares by January 12, 2022, with at least 70% required for the deal to proceed.