Kestrel Solutions to Acquire TeON Optical Networks

MOUNTAIN VIEW, Calif., June 15 -- Kestrel Solutions Inc. and TeON Optical Networks Inc. have signed a letter of intent for Kestrel to acquire TeON. Kestrel and TeON have been developing a common technology for a new generation of advanced optical networking transport equipment. Both companies believe that a combination of their technical and business resources will enable them to innovate more rapidly and be more effective in the market.
Marty Kaplan, currently the pesident and CEO of TeON, has been named interim CEO of Kestrel, replacing Brian Jervis who resigned to accept a new career opportunity. John Barter has resigned as CFO for personal reasons.