DZS Asia Business Acquired by DASAN Networks
BOSTON, April 17, 2024 – Bowen is pleased to announce that DZS (Nasdaq: DZSI), a global leader of broadband networking and AI-driven cloud software solutions, has divested its Asia operations to DASAN Networks Inc. (DNI), a Korea-based network solutions provider. Bowen acted as the exclusive M&A advisor to DZS.
The divestiture of DZS’ Asia operations allows DZS to become a broadband networking and AI-driven software pure play, and enables it to focus on high growth, higher margin Americas, Europe, Middle East, and Africa (EMEA), and Australia/New Zealand (ANZ) geographic regions. As part of the Asia divestiture, DZS also eliminated related-party and 3rd-party debt, meaningfully deleveraging its balance sheet.
“I have worked with Paul Bowen and his team for 20 years which began during my tenure at GENBAND/Ribbon Communications,” said Charlie Vogt, President and CEO, DZS. “Their domain knowledge in networking and software across the global telecom landscape is exceptional. During my current tenure at DZS, Bowen has been instrumental in partnering with us on our strategic decision to divest our Asia business, maximizing the value and finding a win-win-win for DZS, DNI and our shareholders. In addition, the Bowen team recently assisted DZS with our $25 million equity and debt working capital transaction. DZS continues to be acquisitive having already completed three trend-setting technology acquisitions – Optelian (Optical), RIFT (multi-domain orchestration / automation) and ASSIA (network assurance and in-home wireless monitoring and management) – and we expect the Bowen team will be working closely with us as we consider our next strategic acquisition.”
“Our DZS relationship exemplifies everything that makes me proud of our 22+ years of work at Bowen – longstanding relationship, public company transaction complexity, 13-hour time zone difference between the parties requiring interpreters and, most importantly, an extreme sense of transaction urgency,” said Paul Bowen, Founder & CEO of Bowen. “We have never shied away from tough – in fact, we lean into it. We are honored to have the opportunity to work with DZS.”
Read more: