-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SycomHvI5uRkoqXPOFWLbgwNFaNUfoGxJqbbuDo9D4J3NgqUKg228eKjJKXiHQFn QEh6GzIcEyMEeS7t+jVZ2Q== 0001012870-99-004682.txt : 19991220 0001012870-99-004682.hdr.sgml : 19991220 ACCESSION NUMBER: 0001012870-99-004682 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19991214 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19991217 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NEWBRIDGE NETWORKS CORP CENTRAL INDEX KEY: 0000827301 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE & TELEGRAPH APPARATUS [3661] IRS NUMBER: 980077506 STATE OF INCORPORATION: A6 FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-13316 FILM NUMBER: 99776809 BUSINESS ADDRESS: STREET 1: 600 MARCH ROAD PO BOX 13600 STREET 2: KANATA ONTARIO CANADA CITY: K2K 2E6 STATE: A6 BUSINESS PHONE: 6135913600 MAIL ADDRESS: STREET 1: 600 MARCH ROAD STREET 2: KANATA ONTARIO CANADA CITY: K2K 2E6 STATE: A6 8-K 1 FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 14, 1999 Newbridge Networks Corporation - ------------------------------------------------------------------------------- (Exact Name of Registrant as Specified in Charter) Canada 001-13316 98-0077506 - ------------------------------------------------------------------------------- (State or Other Jurisdiction (Commission File Number) (IRS Employer of Incorporation) Identification No.) 600 March Road, Kanata, Ontario, Canada K2K 2E6 - ------------------------------------------------------------------------------ (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (613) 591-3600 ------------------------- N/A - ------------------------------------------------------------------------------- (Former name or former address, if changed since last report) Item 2. Acquisition or Disposition Assets. On November 10, 1999, Newbridge Networks Corporation, a Canadian corporation (the "Registrant"), Stanford Telecommunications, Inc., a Delaware corporation ("Stanford Telecom"), and Saturn Acquisition Corp., a Delaware corporation and a wholly owned subsidiary of the Registrant ("Merger Sub"), entered into an Amended and Restated Agreement and Plan of Merger (the "Merger Agreement"). Pursuant to the terms of the Merger Agreement, on December 14, 1999 the Merger Sub merged with and into Stanford Telecom, the separate existence of the Merger Sub ceased, and Stanford Telecom became a wholly-owned subsidiary of the Registrant. In connection with the merger, each share of Stanford Telecom common stock issued and outstanding prior to the effective time of the merger was automatically converted into the right to receive in cash, without interest, an amount equal to U.S. $34.22. The Registrant purchased the Stanford Telecom shares with its available cash reserves and a daylight loan facility through the Royal Bank of Canada. The loan was repaid on December 15, 1999. The merger is more fully described in the press release filed herewith as Exhibit 99.1. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (a) Financial Statement of Business Acquired. The financial statements of the business acquired are not being filed with this Report. Such financial statements, if required, will be filed within 60 days after the date this Report is filed with the Securities and Exchange Commission (the "Commission"). (b) Pro Forma Financial Information. The pro forma financial information is not being filed with this Report. Such financial statements, if required, will be filed within 60 days after the date this Report is filed with the Commission. (c) Exhibits 2.1 Amended and Restated Agreement and Plan of Merger, dated as of June 22, 1999, as amended as of August 20, 1999 and amended and restated as of November 10, 1999, by and among Stanford Telecom, the Registrant and Merger Sub (Incorporated herein by reference to Registrant's Current Report on Form 8-K filed on November 18, 1999) 99.1 Joint Press Release issued by the Registrant and Stanford Telecom on December 15, 1999 -2- SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Newbridge Networks Corporation Dated: December 17, 1999 By: /s/ Peter Nadeau Title: Corporate Vice President, General Counsel and Secretary -3- EXHIBIT INDEX Exhibit Description - ------- ----------- 2.1 Amended and Restated Agreement and Plan of Merger, dated as of June 22, 1999, amended as of August 20,1999 and amended and restated as of November 10, 1999, by and among the Registrant, Stanford Telecom and Merger Sub (Incorporated herein by reference to Registrant's Current Report on Form 8-K filed on November 18, 1999) 99.1 Joint Press Release issued by the Registrant and Stanford Telecom on December 15, 1999 EX-99.1 2 JOINT PRESS RELEASE DATED 12/15/99 Exhibit 99.1 Newbridge Networks Completes Acquisition of Stanford Telecommunications Sunnyvale, Calif., December 15, 1999 -- Newbridge Networks (NYSE:NN; TSE:NNC) today announced completion of the acquisition of Stanford Telecommunications (Nasdaq: STII), a leading supplier of key broadband wireless technology and products. The acquisition substantially expands the Newbridge addressable market and greatly enhances the Company's ability to deliver comprehensive solutions that address the exploding market for broadband wireless communications. Shareholders of Stanford Telecom granted final approval to the merger on December 13, 1999, resulting in the acquisition closing on December 14, 1999. Under the agreement, Newbridge will pay Stanford Telecom stockholders U.S. $34.22 for each common share of Stanford Telecom. Newbridge will use its existing cash balance to finalize the transaction. After proceeds from the divestiture of unrelated businesses, the acquisition is expected to have a net cost to Newbridge of approximately U.S. $240 million. The transaction will be accounted for under the purchase method of accounting. "With Stanford Telecom's industry leading high speed TDMA technology folded into the Newbridge portfolio, we will deliver more valuable solutions to reinforce our lead in the broadband wireless market," said Pearse Flynn, president and chief operating officer Newbridge Networks. "The powerful combination of Stanford Telecom and Newbridge further strengthens our leadership position in the exploding global market for broadband wireless." Newbridge will retain the Wireless Broadband Products (WBP) and Satellite Personal Communications (SPC) groups of Stanford Telecom. The Newbridge wireless development team in Sunnyvale forms a key element of the Newbridge center of excellence for broadband wireless technologies, including the development of multiple access wireless modems and highly integrated subscriber units. Newbridge Networks designs, manufactures, markets and services wide area networking solutions for Internet service providers; local, long-distance, and wireless communications companies; cable television carriers; and enterprise customers in more than 100 countries. The company leverages its relationship with Newbridge Affiliate companies and strategic alliances with numerous other networking companies to deliver complete, end-to-end solutions. Newbridge customers include the world's 350 largest telecommunications service providers and more than 10,000 corporations, government organizations and other institutions. Founded in 1986, the Company employs more than 6,000 people on six continents. News and information are available at www.newbridge.com. For more information, contact Corporate Communications. Newbridge and logo are registered trademarks of Newbridge Networks Corporation. -----END PRIVACY-ENHANCED MESSAGE-----