Sunrise Telecom Inc. (OTC BB: SRTI), a San Jose, Calif.–based provider of test and measurement solutions for telecom, cable and wireless networks, is exploring strategic options that could include a sale to private equity firms. It has retained Cabrillo Advisors as a strategic advisor.
Sunrise Telecom(R) Incorporated (OTC: SRTI.PK), a leader in test and measurement solutions for telecom, cable and wireless networks, today announced it is exploring its strategic alternatives in order to enhance shareholder value. Alternatives being considered may include a sale to a strategic buyer or a private equity fund or a merger with a similarly sized company. Cabrillo Advisors, LLC has been retained as financial advisor.
“Although the Company has made substantial progress in its restructuring efforts and expects to demonstrate significant improvement in 2009,” stated Lyron Bentovim, Director and Chair of the Board’s Strategy Committee, “management and the Board believe that the interests of shareholders are best served by considering strategic alternatives.”
Paul Marshall, CEO, commented, “We continue our passion for delivering industry-best solutions for communication service providers’ installation and maintenance needs, and we believe that we may be able to structure Sunrise Telecom in a more efficient way, benefiting our shareholders, customers and employees.”
The Company is committed to completing its review of potential alternatives as promptly as practicable. However, there can be no assurances that any particular alternative will be pursued or that any transaction will occur, or on what terms. The Company does not plan to release additional information about the status of its review until a definitive agreement is entered into or the process is otherwise completed or terminated.
Cabrillo Advisors is an investment banking firm focused on providing high-quality merger, acquisition and capital raising expertise to public and private companies in the middle-market. Cabrillo served as sole advisor to the Company in its divestiture of its Protocol Products Group in November 2008.
About Sunrise Telecom Incorporated
Sunrise Telecom develops and delivers high-quality communications test and measurement solutions for telecom, cable and wireless networks. The Company’s robust portfolio of feature-rich, easy-to-use products enables service providers to deliver premium voice, video, data and next-generation digital multimedia services quickly, reliably, and cost-effectively. Based in San Jose, California, Sunrise Telecom distributes its products through a direct sales force and a global network of sales representatives and distributors. Additional information is available at the Company’s website, www.sunrisetelecom.com.