Network Equipment Technologies, Inc. to Switch Stock Exchange Listing to NASDAQ
April 13 2009 - 4:01PM
Marketwired
Network Equipment Technologies, Inc. ("NET") (NYSE: NWK) today
announced that it will move its stock exchange listing from The New
York Stock Exchange to The NASDAQ Stock Market, effective April 24,
2009. NET's shares of common stock will continue to be traded under
the ticker symbol NWK.
"NET is a high-tech company focused on developing new
technologies for a rapidly changing marketplace, and NASDAQ and its
listed companies represent many qualities that are in sync with our
objectives for innovation and industry-leading products," said
president and CEO C. Nicholas Keating, Jr. "While we have
benefitted greatly from our nearly 20-year association with The New
York Stock Exchange, we believe that the NASDAQ Stock Market is
best aligned with our company's growth strategy."
"We are delighted Network Equipment Technologies, Inc. has
chosen to list with NASDAQ OMX, the world's largest exchange
company," said Bruce Aust, executive vice president of The NASDAQ
OMX Group, Inc. "NET is a leader in the networking technology
business with a strong global presence and we welcome them to our
family of 3,800 listed companies," he added.
About NASDAQ OMX
The NASDAQ OMX Group, Inc. is the world's largest exchange
company. It delivers trading, exchange technology and public
company services across six continents, with over 3,800 listed
companies. NASDAQ OMX offers multiple capital raising solutions to
companies around the globe, including its U.S. listings market,
NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and
the U.S. 144A sector. The company offers trading across multiple
asset classes including equities, derivatives, debt, commodities,
structured products and exchange-traded funds. NASDAQ OMX
technology supports the operations of over 70 exchanges, clearing
organizations and central securities depositories in more than 50
countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal
entities but describe the common offering from NASDAQ OMX exchanges
in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and
Vilnius. For more information about NASDAQ OMX, visit
http://www.nasdaqomx.com.
About Network Equipment Technologies, Inc.
Network Equipment Technologies, Inc. (NET) provides network and
VoIP solutions to enterprises and government agencies that seek to
reduce the cost to deploy next generation unified and secure
communications applications. For a quarter of a century, NET has
delivered solutions for multi-service networks requiring high
degrees of versatility, security and performance. Today, the
company's broad family of products enables interoperability and
integration with existing networks for migration to secure IP-based
communications. Broadening NET's voice solutions, Quintum
Technologies, now a part of NET, is a VoIP innovator whose
applications bring the reliability and clarity of public telephone
networks to Internet telephony and unified communications. NET is
headquartered in Fremont, CA and has 14 offices worldwide including
the US, the UK, France, the Middle East, China, Japan, Australia,
and Latin America. The company sells its solutions through a direct
sales force and an international network of resellers and
distributors. For more information, visit www.net.com.
Company Contact: Leigh Salvo (510) 647-8870
Network Equip (NYSE:NWK)
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