Zhone agrees reverse takeover with Dasan Networks

(Telecompaper) Zhone Technologies announced a definitive agreement to merge with Dasan Network Solutions, a subsidiary of Korea's Dasan Networks. Zhone will acquire Dasan Network Solutions and in exchange will issue shares to Dasan Networks representing 58 percent of the combined company. The new company will be called Dasan Zhone Solutions and will have two co-CEOs, one appointed by Dasan Networks and the other by Zhone. Zhone said the deal will lead to a bigger customer base and product p