Launches as a global provider of Fiber Optic Broadband Solutions and Cloud Software Services

PLANO, Texas, May 5, 2025 /CNW/ – Zhone Technologies, Inc. (“Zhone” or the “Company”) today announced the successful closing of its acquisition (the “Transaction”) of substantially all of the assets of DZS Inc., DZS Services Inc. and DZS California Inc. (collectively, “DZS”), including all technology, intellectual property, lab facilities, IT systems, and certain customer and supplier contracts (the “DZS Assets”) pursuant to an Asset Purchase Agreement dated as of April 22, 2025 among Zhone and the duly appointed trustee of the DZS Assets (the “Trustee”). The Transaction was completed on May 1, 2025, following the approval and entry of an order by the United States Bankruptcy Court for the Eastern District of Texas approving the sale of the DZS Assets to Zhone.

Clayton Zekelman, the Chairman and Chief Executive Officer of Zhone stated, “We are very excited to complete this strategic acquisition and we look forward to working collaboratively with all of the stakeholders of Zhone moving forward.” 

Mr. Zekelman added, “Our team has worked tirelessly within the United States Bankruptcy Court proceedings to reestablish and renew forward-looking partnerships with key third-party development (ODM) and contract manufacturers. These relationships are critical to securing vital silicon chip technology, manufacturing, IT systems, and globally established facilities that will support Zhone’s long-term growth.”

As part of the Transaction, Zhone also exercised its option to acquire all of the issued and outstanding shares of four international subsidiaries of DZS, specifically DZS International Inc., DZS Canada Inc., DZS Solutions India Private Limited, and NetComm Wireless Pty Ltd. (“NetComm”) and is separately acquiring the assets of , NetComm pursuant to a separate administration proceedings in Australia (collectively, the “DZS International Subsidiaries”).

The acquisition of the former DZS International Subsidiaries aligns with Zhone’s broader strategic objective to acquire substantially all of the former DZS assets worldwide. The completion of these international transactions will not only facilitate reengagement of former DZS employees, but will also bolster Zhone’s market-leading portfolio to include Fiber Extension Distribution Point Unit (DPU) solutions, Fixed Wireless Access (FWA) solutions, and next-generation WiFi Gateway and Access Point CPE solutions.

The acquisition of the DZS Assets and the DZS International Subsidiaries by Zhone, which was first announced via a letter of intent on April 7, 2025 by an affiliate of Zhone, positions the Company as a strong and financially stable global player in the fiber optic broadband industry. Zhone is now poised to leverage the leading technologies and innovations associated with DZS’s VelocityTM Optical Line Terminal Systems (OLT), SaberTM Optical DWDM Transport & ROADM Systems, HelixTM Optical Network Terminals (ONT), WiFi Gateways (CPE) and Access Points (AP) as well as Zhone XtremeTM Cloud Management, Automation and Orchestration Software portfolio.

The Company will be headquartered in Plano, Texas, and is committed to maintaining continuity of service for its valued customers, while focusing on the integration and advancement of key technology platforms. Additionally, the Company is actively working to rehire many of the current and former employees of DZS, ensuring that the talent and expertise of the predecessor organization is preserved and further expanded within Zhone .

Zhone’s focused mission over the immediate term will be to execute and deliver by restoring its technical support services (Zhone Customer Care & Success Programs) to its well-established 25+ year customer base. A key priority will also be to reestablish supply chain operations in order to fulfill purchase order backlog and resume shipments to highly valued customers and channel partners who have remained committed and patient throughout the sale process for the DZS Assets. Following the successful execution of these initial priorities, Zhone will shift toward expansion and embracing new customers and forming strategic partnerships driven by continued innovation and solutions advancement. Zhone’s strategic vision is centered on innovation, execution, and the continued development of cutting-edge products and services for the global fiber broadband market.

Advisors

Bennett Jones LLP and Dykema Gossett PLLC acted as counsel to Zhone Technologies, Inc.. Singer and Levick, P.C. acted as general counsel to the duly appointed Trustee, Grable Martin PLLC acted as special counsel to the Trustee for the Transaction, and Charlie Vogt of Normandy Lane LLC consulting and advisory services, and former CEO of DZS, acted as special consultant to the Trustee for the Transaction.

About Zhone Technologies, Inc.

Zhone Technologies, Inc. is a leading global provider of fiber optic broadband solutions and cloud software services. Zhone Technologies, Inc. aims to accelerate the growth of the FTTx and cloud software markets by leveraging over 25 years of technology innovation. The Company is headquartered in Plano, Texas, and serves a global customer base with a focus on innovative, high-performance solutions. The shareholder base of the Company brings with it over 25 years of experience in the international telecom industry and other leading industries, operational expertise, financial stability and a continued track record for advancing innovation.

View original content:https://www.prnewswire.com/news-releases/zhone-technologies-announces-acquisition-of-dzs-assets-302445657.html

SOURCE Zhone Technologies, Inc.

Appointment underscores Therme Canada’s commitment to reconnecting people to the waterfront through a revitalized Ontario Place

TORONTO, May 5, 2025 /CNW/ – Therme Canada’s project delivery team continues to grow with the appointment of Adam Vaughan as Senior Advisor.  A widely known public policy figure, Adam brings decades of experience in public service and a lifelong dedication to the city’s waterfront.

“We’re pleased to welcome Adam Vaughan to Therme Canada,” said Gavin Thompson, Vice-President, Corporate Affairs for Therme Canada. “Adam’s leadership experience and strong connection to Toronto’s waterfront makes him an ideal addition to our growing team focused on executing against our vision of transforming the West Island of Ontario Place into a year-round destination for fun, wellbeing, and togetherness.”

Vaughan joins the team delivering Therme Canada | Ontario Place, a first-of-its-kind wellbeing destination coming to Toronto’s waterfront. The project will offer a transformative year-round wellbeing experience for people of all ages and includes nearly 16 acres of public waterfront parkland. 

“I grew up loving Lake Ontario and have spent most of my life working to help create a clean green waterfront for people to live, work, and play,” said Adam Vaughan, Senior Advisor, Therme Canada. “The Ontario Place we remember used to be such a dynamic attraction, I’m excited about Therme’s vision for the site and I’m looking forward to bringing new parkland, places to swim, and an amazing accessible urban oasis to the city that’s open to all.”

Vaughan served as Member of Parliament for Trinity-Spadina and Spadina–Fort York, from 2014 to 2021, where he was Parliamentary Secretary to the Prime Minister and to the Ministers responsible for Families, Children, and Social Development. He helped lead the development of Canada’s first National Housing Strategy and championed the Right to Housing in legislation. Prior to federal politics, Vaughan served two terms on Toronto City Council, where he focussed on planning and housing policy. Prior to that Adam spent 25 years as a political reporter with CBC, Citytv, and CP24.

Vaughan is also a published author and cartoonist and has taught and lectured at the University of Toronto’s School for Cities. While on City Council he served on the Planning and Growth Committee, the Police Services Board, and as the City’s representative on the Board of the Art Gallery of Ontario, Harbourfront Centre, and Artscape.

About Therme Group

Therme Group is a global owner, operator, and developer, shaping the future of wellbeing through a new type of social infrastructure called ‘Therme.’ Designed to enhance physical, social, and mental health, these spaces and wellbeing destinations help communities reconnect with nature, themselves, and each other. Guided by the belief that wellbeing should be accessible to all, Therme Group creates inclusive, scalable solutions to meet the growing demand for urban wellbeing.

Current locations, including Therme Bucharest—the world’s first LEED Platinum-certified wellbeing infrastructure—and the newly acquired Therme Erding, the world’s largest wellbeing destination, welcome millions of visitors each year, with developments underway in cities such as Manchester, Toronto, Frankfurt, Dallas and Washington, D.C.

SOURCE Therme Canada

‘Navigating the Escalating Risk Trajectory’ quantifies direct and indirect impacts of today’s heightened risk environment

MILWAUKEE, May 5, 2025 /PRNewswire/ — Leading insurtech Zywave today released an industry special report, ‘Navigating the Escalating Risk Trajectory,’ that delineates six forces driving change in the risk and insurance landscape. The Zywave report analyzes the ever-expanding challenges confronting risk and insurance professionals and provides invaluable insight into the causes and effects of today’s insurance landscape.

The 22-page risk report equips insurers and brokers with actionable information to better educate clients on the state of the insurance market and what can be done to build resilience and mitigate negative impacts. Combining Zywave’s proprietary loss data with third-party research, the piece details six key forces – emerging risks, causes of loss, types of loss, laws and regulations, litigation trends, and the costs of loss – which should influence every conversation about risk.

“It’s undeniable that the insurance landscape is becoming increasingly complex,” said Martin Simoncic, Zywave’s Chief Executive Officer. “Dynamic market conditions, combined with today’s economic headwinds and a cascade of other business hurdles, make both risk transfer for clients and profitable growth for insurance firms more challenging than ever before.”

‘Navigating the Escalating Risk Trajectory’ is powered by Zywave’s Loss Insight data set, which offers access to over 1 million low frequency, high severity loss events, totaling more than $10 trillion in loss value. The report offers numerous examples that illustrate the escalating risk trajectory, each with a unique impact on the market. One example cited, over the past 15 years, the number of jury verdicts and settlements exceeding $10 million has increased by 130%, with 2024 alone having over 200 cases. During that same period, the average verdict or settlement over $10 million ballooned by more than 75% to $75 million in 2024.

“It’s critical that insurance professionals not only deeply understand the causes of loss and their impacts, but also share that knowledge with their customers, insurance buyers and policyholders,” adds Simoncic. “Through leveraging their own data, market data, and emerging technology, including AI, patterns emerge that will help us better predict future losses, which in turn enables both insurers and brokers to make smarter, more profitable business decisions. Working together as an industry, this type of analysis and open information sharing is the key to both thriving in today’s challenging market and to be prepared for whatever tomorrow brings.”

For a comprehensive view of the six driving forces shaping the risk insurance landscape, download a copy of ‘Navigating the Escalating Risk Trajectory.’

About Zywave
Zywave empowers insurers and brokers to drive profitable growth and thrive in today’s escalating risk landscape. Only Zywave delivers a powerful Performance Multiplier, bringing together transformative, ecosystem-wide capabilities to amplify impact across data, processes, people, and customer experiences. More than 15,000 insurers, MGAs, agencies, and brokerages trust Zywave to sharpen risk assessment, strengthen client relationships, and enhance operations. Additional information can be found at www.zywave.com.

Contact:
April Larsen
april.larsen@zywave.com
+1.414.918.0547

View original content to download multimedia:https://www.prnewswire.com/news-releases/new-zywave-report-details-six-intensifying-forces-shaping-the-insurance-landscape-302445319.html

SOURCE Zywave