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EXHIBIT 99.1
3COM, ACCTON AND NATSTEEL CREATE
INDEPENDENT ANALOG MODEM COMPANY
NEW COMPANY TO ASSUME U.S. ROBOTICS NAME;
INDEPENDENT OPERATIONS TO COMMENCE BY SEPT. 2, 2000
SANTA CLARA, CALIF., -- June 7, 2000 -- 3Com Corporation (Nasdaq:
COMS) today announced the finalization of the analog modem strategic alliance
previously announced on Mar. 20, 2000, between 3Com, Accton Technology
Corporation and NatSteel Electronics. The new company created through this
alliance will be called U.S. Robotics-Registered Trademark- and will assume
3Com's analog-only modem product lines and business, including U.S. Robotics
and U.S. Robotics Courier-Registered Trademark- branded modems. U.S. Robotics
will be headquartered in the Chicago area and will commence full operations
by Sept. 2, 2000.
With the analog modem business as its foundation, U.S. Robotics will
identify new ways to build on the brand strength and superior product quality
that has been the hallmark of U.S. Robotics branded products for more than 25
years. U.S. Robotics will develop and market a spectrum of Internet access
solutions to suit a wide range of consumer, SOHO and corporate customers.
"U.S. Robotics has been structured to take advantage of strong existing
revenue streams, while leveraging new channels and business models to improve
margins and foster innovation," said Paul Kim, vice president, Accton
Technology, and U.S. Robotics board member. "Analog modem technology remains
ubiquitous and market forecasts indicate continued volume growth for many years.
An independent company is best suited to enhance the value of the market-leading
U.S. Robotics modem brand."
Approximately 250 3Com employees in engineering, marketing, sales and
support will transfer from 3Com to U.S. Robotics. U.S. Robotics will have its
own board of directors including members from 3Com, Accton and NatSteel.
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"As a newly created independent company, U.S. Robotics will maximize
its presence in the marketplace by fostering continued and significant
innovation and enhancements to analog modem technology," said Tim Kattner,
senior vice president, NatSteel Americas, and U.S. Robotics board member.
3Com also announced in March 2000 its intent to form a strategic
manufacturing alliance with NatSteel that included the sale of 3Com's
manufacturing operations in Mount Prospect, Ill., to NatSteel. Additionally, the
two companies announced intentions to form a supplier agreement in which
NatSteel will continue to manufacture broadband modems and carrier-based,
multi-services access platform equipment for 3Com. A definitive agreement
between the two companies will be completed shortly.
"The creation of U.S. Robotics is one more example of 3Com's
transformation to actively focus resources on three distinct networking markets:
consumers, commercial customers -- particularly small and medium-sized locations
-- and network service providers," said Jef Graham, senior vice president of
3Com's Commercial and Consumer Networks Business. "By creating a separate,
independent corporation with a singular focus, 3Com enhances U.S. Robotics'
ability to adapt to market dynamics. The separation permits both 3Com and U.S.
Robotics to pursue opportunities that best fit their respective strengths and to
better serve their customers."
About Accton Technology Corporation
Accton Technology Corporation is a leading provider of ODM/OEM
networking equipment delivering networking solutions to customers around the
world. The Company has grown rapidly from a small group of dedicated engineers
into a multinational organization with offices located around the world. Accton
has experienced continued growth with annual growth rates ranging between 35% to
60%. Accton was formed in 1988 and was listed on the Taiwan Stock Exchange in
1995. Current market capitalization is approximately US$600 million. More
details about Accton can be found on www.accton.com.tw.
About NatSteel Electronics Ltd.
NatSteel Electronics Ltd. (NEL) is the fifth largest electronic
contract manufacturer in the world in terms of revenue and provides electronic
manufacturing services to many of the world's technological leaders. The
contract manufacturing services of NEL include printed circuit board assembly
design and testing services, system and subsystem assembly of electronic
products and logistic support for its customers. The NEL group has manufacturing
operations in Asia, Mexico, USA and Hungary and sales offices in the USA and
Europe. NEL was listed on the Stock Exchange of Singapore in October 1997 and
has a current market capitalization of approximately in excess of S$3 billion.
More details about NEL can be found on www.nel.com.sg.
About 3Com Corporation
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With more than 300 million customers worldwide, 3Com Corporation
connects more people and organizations to information and each other in more
innovative, simple and reliable ways than any other networking company. 3Com
delivers web-enabled solutions to consumers, small- to medium-sized business
locations and network service providers. For further information, visit 3Com's
World Wide Web site at www.3com.com or the press site at www.3com.com/pressbox.
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