Tii Network Technologies

Has sold its business to

Kelta, Inc.

Tii Network Technologies, a publicly-traded NASDAQ-listed technology equipment company which designs, manufactures and sells products to service providers in the communications industry for use in their fixed and wireless networks, was sold to Kelta Inc. in a negotiated transaction for $33 million. The sale price represented a 54% premium to Tii Network Technologies’ stock price prior to the announcement of the transaction. Tii’s products are typically found in the Telco Central Office, outdoors in the service providers’ distribution network, at the interface where the service providers’ network connects to the users’ network, and inside the users’ home or apartment, and are critical to the successful delivery of voice and broadband communication services. As part of the transaction, a fairness opinion with respect to the transaction was provided to the Board of Directors and shareholders of Tii Network Technologies.

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