Market Overview

ADTRAN Acquires SmartRG—Leading Provider of Connected Home Software Platforms & Cloud Services

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Robust portfolio and specialized industry expertise to capitalize on
growing global markets and trends

ADTRAN,
Inc.
, (NASDAQ:ADTN), the leading provider of next-generation open
networking solutions, announced its acquisition today of SmartRG
Inc
—a pacesetter and accomplished innovator of carrier-class,
open-source connected home platforms and cloud services for broadband
service providers.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20181206005431/en/

ADTRAN Acquires SmartRG (Graphic: Business Wire)

ADTRAN Acquires SmartRG (Graphic: Business Wire)

Based in Vancouver, Washington, SmartRG brings long-standing industry
leadership and expertise in open-source software development, as well as
a comprehensive portfolio of cloud-management,
analytics,
Wi-Fi-enabled
residential gateways
and its SmartOS
software platform
. The company's executive team and employees will
remain in place to ensure a seamless transition and accelerated market
share growth, while leveraging ADTRAN's global reach and resources.

"We are very excited to welcome everyone at SmartRG—a growing and
profitable enterprise—and look forward to their contributions to our
team," ADTRAN Sr. Vice President of Technology and Strategy Jay Wilson
said. "SmartRG's expansive customer base exemplifies its market
leadership and we are committed to a smooth transition, as we move
toward full collaboration and integration with our award-winning Mosaic
platforms."

Together, ADTRAN Mosaic and Smart OS provide full end-to-end management
and orchestration solutions from cloud edge to subscriber edge. Service
providers understand that bandwidth must now be delivered not only to
the doorstep but down to every device within a home to meet consumer
expectations. This acquisition emphasizes ADTRAN's commitment to helping
broadband providers lower operating expenses and connect everyone,
everywhere and everything—the internet the way it should be.

Industry analysts forecast
exponential growth in the fiber access market
, driven by greater
broadband requirements for connected homes and businesses. According to
IDC's Worldwide
Quarterly Smart Home Device Tracker
, all categories of smart home
devices are expected to deliver double-digit growth through 2022. The
timing of this acquisition positions ADTRAN and SmartRG to capitalize on
two important global market trends.

"As fiber-based, virtually future-proof residential networks become a
reality and bandwidth is no longer the gating factor, value creation
will come from the ability to optimize the subscriber experience,"
SmartRG President and CEO Jeff McInnis said. "Our ability to deliver
against this need will enable ADTRAN and SmartRG customers to lower
costs, simplify and scale networks and grow revenue by creating
higher-value and lasting relationships with their customers."

SmartRG counts more than 3 million devices in service and over 1.3
million devices under management in North America, the Caribbean and
South America. The company expects to scale and drive growth through its
differentiated software solutions as more customers shift from closed,
proprietary options to SmartOS—its open-source-based, cloud-enabled
solution suite.

As the market has shifted toward Software-Defined Networking (SDN), both
ADTRAN and SmartRG have delivered market-defining solutions based on
open, programmable and scalable designs that interoperate and manage
other devices. The combination of ADTRAN and SmartRG will enable
broadband providers to improve subscriber experience from the access
network into any home or business. Both companies are also
philosophically aligned around the need to design for and support third
party devices to give operators greater flexibility.

About SmartRG

SmartRG Inc. offers the best whole-home Wi-Fi service delivery platform
in its class. Its innovative technology and elegant designs help
broadband operators migrate, manage and monetize the increasingly
connected home experience while exceeding subscriber expectations. For
more information, visit SmartRG.com.

About ADTRAN

ADTRAN, Inc. is the leading global provider of networking and
communications equipment. ADTRAN's products enable voice, data, video
and internet communications across a variety of network infrastructures.
ADTRAN solutions are currently in use by service providers, private
enterprises, government organizations and millions of individual users
worldwide. For more information, please visit ADTRAN.com,
LinkedIn
and Twitter.

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