Asante Technologies is to merge with the Oblique investment group, once led by former Asante VP sales and marketing James Volkmar.
Asante is known for its networking solutions, including Bluetooth adaptors, Ethernet switches and wireless products.
The value of the recapitalization is approximately $5.12 million, subject to performance requirements. Existing Asante shareholders will receive up to $0.50 in cash per share. Cash payments will be distributed no later than March 31, 2004.
Asante CEO Wilson Wong said: "The management team at Oblique is very seasoned and has a proven track record in the industry. Their focus on resellers should have significant impactc in improving sales through a revitalized channel."
Volkmar said: "Asante was one of the pioneer networking companies and has a long history of providing high-quality, well-engineered and strongly-supported products."
The revitalized company is expected to work to reestablish its connections with resellers as part of its strategy for future development.
The merger will close in the third or fourth quarter