CommScope has closed the sale of its (CCS) segment to Amphenol Corp. and provided details of its recent rebrand.
The proceeds from the sale will be used to repay outstanding debt and redeem preferred equity held by the Carlyle investment firm. The company expects to distribute excess cash to shareholders in two to three months. The dividend is expected to be more than $10 per share.
CommScope announced its rebrand as Vistance Networks, as the CommScope name will move with the CCS segment. Vistance Networks will run what it describes as a “more focused portfolio” as parent to the Access Networks Solutions (ANS) and RUCKUS Networks businesses.
CommScope’s ANS will be rebranded as Aurora Networks and continue to provide access network hybrid fiber-coax and broadband network equipment. RUCKUS Networks will offer WI-FI, switching and cloud-managed platforms.
Shares of COMM were scheduled to begin trading as VISN on the NASDAQ exchange earlier this week.
“CommScope has a long history as an industry leader in networking solutions across a broad portfolio,” CCS CEO Chuck Treadway said in a press release.
“With the sale complete, CCS is positioned to do well under Amphenol, and RUCKUS Networks and Aurora Networks will continue to execute a clear vision on next-generation solutions. As the world’s foremost authority in access network and purpose-driven network solutions, we will move forward with the same commitment to design and deliver intelligent solutions with the same level of experience and service that our customers and partners have come to expect and trust.”
CommScope is one of many telecommunications providers and vendors to rebrand recently. For instance:
- In November, Project Kuiper — Amazon’s low-earth orbit (LEO) project — changed its name to Amazon Leo.
- Earlier that month, cable operator Altice USA announced its rebrand as Optimum Communications, Inc.
- In September, Consolidated Communications changed its name to Fidium. Prior to the name change, the Consolidated had used Fidium as a brand for its fiber broadband service.
