Carrier Ethernet specialists Hatteras Networks and Overture have announced a merger, demonstrating continuing consolidation in the telecom networking space. Terms of the merger were not revealed and both companies say the merger should close quickly, perhaps in as little as three weeks.
The combined company will be known as Overture and current Overture CEO Jeff Reedy will act as the combined company’s CEO. Current Hatteras CEO Kevin Sheehan will become president of the new combined company.
Both Overture and Hatteras make their market in the fast growing carrier Ethernet market, with both self proclaiming themselves as the “carrier ethernet market leader.” Hatteras’ specialty has been Ethernet over Bonded Copper, while Overture focused on Ethernet over TDM. Both companies stressed that their product lines complement each other, not overlap.
Enterprise, cloud, and cell site backhaul services are fueling a carrier Ethernet boom of sorts. Expect the new combined company to take a no prisoners attitude with the likes of Ciena, Brocade, and other network providers who are trying to maximize their own opportunities in the fast moving space.