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BRIEF-Sonus, Genband to combine

May 23 Sonus Networks Inc:

* Sonus and GENBAND to combine to create a global leader in real-time communications software solutions

* Sonus Networks Inc - transaction values combined company at an enterprise value of approximately $745 million

* Sonus Networks Inc - deal expected to be substantially accretive to Sonus' non-GAAP EPS in 2018

* Sonus Networks Inc - deal projected to have annual cost synergies of $40-$50 million by end of 2018

* Sonus Networks Inc - post-annualized synergies, combined co expected to generate at least $100 million in annual EBITDA, with 2020 EBITDA seen to be approximately $140 million

* Sonus Networks Inc - transaction has been unanimously approved by boards of directors of both companies

* Sonus Networks Inc - combined company will have an estimated net cash position of $40 million to $45 million at time of close

* Sonus Networks Inc - combined company to issue about 50 million shares to Genband's equity owners and $22.5 million of consideration in form of an unsecured note

* Sonus Networks Inc - Sonus and Genband shareholders will each own approximately 50% of combined company

* Sonus Networks Inc says chief executive officer of combined company will be dolan

* Sonus Networks Inc says Daryl Raiford, chief financial officer of Genband, will serve as chief financial officer of combined company

* Sonus Networks Inc says board of combined company will have five representatives designated by Genband and four representatives designated by Sonus

* Sonus Networks Inc says Sonus reconfirms its q2 2017 and full year 2017 outlook

* Q2 earnings per share view $-0.09, revenue view $53.9 million -- Thomson Reuters I/B/E/S

* Fy2017 earnings per share view $0.23, revenue view $253.8 million -- Thomson Reuters I/B/E/S

* Sonus Networks Inc - intends to update its guidance to include Genband following close of transaction, which is expected to occur in second half of 2017

* Sonus Networks Inc - each Sonus shareholder will receive one share of common stock in combined company for each existing Sonus share they own Source text for Eikon: Further company coverage:

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