SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): December 17, 1998
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ASANTE TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
State of
DELAWARE 0-22632 77-0200286
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(State or other jurisdiction of (Commission File Number) (IRS Employer
incorporation or organization) Identification No.)
821 Fox Lane
San Jose, CA 95131
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code: (408) 435-8388
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ITEM 5. OTHER EVENTS
Mr. Jeff Lin resigned as President and Chief Executive Officer for Asante
Technologies, Inc. effective December 17, 1998. Mr. Lin's duties and positions
will be assumed by Mr. Wilson Wong. Mr. Lin will continue as a member of the
Company's Board of Directors.
ITEM 7. FINANCIAL STATEMENTS and EXHIBITS
(c) Press Release dated December 28, 1998.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ASANTE TECHNOLOGIES, INC.
Dated: December 29, 1998 /s/ RAJIV MATTHEW
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Rajiv Matthew
Vice President, Finance and
Administration
(Authorized Officer and Principal
Financial Officer)
[GRAPHIC OMITTED]
Corporate Contact: Investor Relations:
Raj Matthew Lynn Barringer
Asante Technologies, Inc. Asante Technologies, Inc.
Phone: 408-435-8401 Ext. 304 Phone: 408-435-8401 Ext.310
Fax: 408-432-1429 Fax: 408-432-1429
Email: [email protected] Email: [email protected]
Asante Technologies Names Wilson Wong
Chairman, President and Chief Executive Officer
SAN JOSE, Calif.--(BUSINESS WIRE)--December 28, 1998--Asante Technologies Inc.
(NASDAQ:ASNT ) today announced that Wilson Wong has been appointed as Chairman,
President and Chief Executive Officer, effective January 1, 1999. Jeff Lin,
Asante's previous Chairman and CEO, will continue to serve on the Board of
Directors of Asante.
Wong, 51, a founder of Asante, has served as a Director of the Company since its
inception. He was the architect of the Company's business and product strategy
when Asante was formed in 1988 and under his leadership the Company quickly
became a major provider of Ethernet networking solutions for the Apple Macintosh
market.
From 1988 to 1993, Wong served as the Company's President and Chief Executive
Officer, and from 1993 to 1994, as Vice President and General Manager for the
Company's Client Access products. In September 1998, Wong re-joined Asante's
management team to take charge of all R&D and engineering of the Company's next
generation products designed to target the SOHO, education and pre-press
markets.
"Asante is committed to taking its core strengths into growing markets,
particularly the Internet and to LAN users in homes and small offices. Wilson's
technical expertise in network product design and experience in low-cost
manufacturing will be significant assets," said Lin. "I'm pleased that he's
decided to provide the leadership once again to the company he co-founded with
me and I'm optimistic that the future holds great opportunity for Asante."
"I'm very confident that the next generation of the Asante family of products to
be released in fiscal Q2 and Q3 of 1999 and the experienced management team
currently in place will provide the elements for future growth and
profitability," said Wong. "I'm delighted to have this opportunity to lead
Asante to the next plateau and achieve its potential in the years ahead."
Lin plans to return to Taiwan and contribute to the electronics industry there,
and has agreed to be President of Lite-On Communications Corporation, the
internetworking company of Lite-On Group, a $2 billion manufacturing
conglomerate headquartered in Taiwan. Lite-On Group is a global leader in PC
peripherals and discrete semiconductors, and one of Asante's OEM suppliers in
Asia.
<PAGE>2
Prior to founding Asante, Wong held engineering and management positions at a
number of technology companies including Sperry Univac, Sytek and
Ungermann-Bass. He has a Master's Degree in Electrical Engineering from the
University of Southern California and a Master's Degree in Business
Administration from the University of Santa Clara. Wong also holds five patents
in computer and network design.
About Asante:
Headquartered in San Jose, California, Asante Technologies Inc. is widely
recognized as a leader in providing multi-platform, high-performance LAN
networking and Internet solutions for the SOHO, education and pre-press markets.
The company's Ethernet and Fast Ethernet products include switches, hubs and
adapter cards, as well as network management and network acceleration software.
Asante's products are sold through an international network of distributors,
value-added resellers (VARs), system integrators and retail channels. Asante's
headquarters are located at 821. Fox Lane, San Jose, CA 95131; Telephone:
800-662-9686. Asante's World Wide Web address is:
www.asante.com.
* * * *
This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking statements
are subject to certain risks and uncertainties that could cause actual results
to differ materially from historical results or anticipated results, including
those risks set forth under the caption "Business Risks" in "Management's
Discussion and Analysis of Financial Condition and Results of Operations" of the
company's Annual Report on Form 10-K for the year ended December 28, 1998, and
other reports filed from time to time with the Securities and Exchange
Commission. Such risks include uncertainties associated with the company's
ability to attract and retain qualified personnel, competition and technological
change. Readers should carefully review the risk factors described in such
reports and other filings made by the company from time to time with the
Securities and Exchange Commission.
