WWG and TTC to Merge

Wavetek Wandel Goltermannidiary of Dynatech Corp. (Burlington, MA), and <%=company%> (WWG; Research Triangle Park, NC) have reached a definitive agreement to merge into a new company with much broader capabilities in test and monitoring solutions for the communications industry worldwide. TTC designs and markets network analyzers, systems, and software, and provides consulting services and technical training that enable optimized network performance. WWG is a designer and manufacturer of a comprehensive range of communications test equipment and systems.

The merger of the industry's number two and three companies will create an industry leader with an expanded product and services portfolio and a stronger presence in global markets. The new company, which will announce its name at a later date, will have more than $800 million in worldwide revenue, more than 4,000 employees, and invest $135 million annually in research and development.

WWG has a leading market position in Europe, Latin America, and Asia/Pacific while TTC is a market leader in North America. WWG's sales of optic solutions and testing systems to service providers and sales of transmission test instruments to equipment manufacturers are expected to accelerate from TTC's North American market strength. Beyond North America, sales of TTC's transmission, data instruments, systems and software solutions will benefit from WWG's global market presence.

Ned Lautenbach, chairman and chief executive officer of Dynatech, will be chairman and chief executive officer of the new company. Peter Wagner, president and CEO of WWG, will become vice chairman, and John Peeler, president and CEO of TTC, will be president. In addition, Albrecht Wandel of the former Wandel & Goltermann will act as chairman of the International Advisory Committee and work with Ned Lautenbach on the new company's international strategy.