FTELFujitsu Telecommunications Europe Ltd.
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In the next stage, planned for completion by end of March 2002, FTEL and Fujitsu Networks Europe will merge.
Employees of Westell Europe Limited (WEL), headquartered in Cambridge, England, became employees of FTEL, FTEL assumed WEL's lease, purchased certain fixed assets and inventories of FTEL, and earned manufacturing rights.
Westell and FTEL have been working closely for a number of years, including our partnership in a major European DSL deployment," stated Marc Zionts, CEO of Westell, Inc.
We look forward to it providing innovative xDSL based end-to-end solutions for our customers," said Shigeyuki Unagami, Managing Director, FTEL.
In return, TLPH would receive FTEL stock and participate in the upcoming FNET IPO.