Olicom Discontinues ATM, Fast Ethernet, and Enterprise Products
- RapidFire ATM adapters and associated software entities;
- RapidFire Fast Ethernet adapters and GoCard Fast Ethernet adapters;
- CrossFire Fast Ethernet switches;
- RapidLan Fast Ethernet hubs and enterprise products including chassis-based and standalone routers and switches; and the
- ClearSight network management systems.
The announcement does not include the company's previous Token-Ring product line that is being actively marketed and sold by Madge Networks (Wexham Springs, UK). This announcement does not imply any changes in Olicom's ongoing worldwide warranty and technical support to Olicom customers who own Olicom ATM, Fast Ethernet, or enterprise products. As previously announced, these services are continuing through VITAL Network Services (Naugatuck, CT).
In order to allow Olicom customers a last opportunity to buy the products affected by this announcement, the company said it will accept orders for products through February 29, 2000, or as long as supplies last.
Decline of Token Ring
In the mid-1990s, Olicom was the world's leading token ring vendor, eclipsing even IBM, the originator of the technology. As Token Ring sales fell, Olicom expanded its business in asynchronous transfer mode (ATM) switches and enterprise IP equipment, but Token Ring had remained its main business.
In related news the company received notification from Nasdaq relating to the failure of the company's common shares to maintain a minimum bid price of $1.00 during a 30 consecutive trading day period, as required for continued listing of the shares. The company also received notification from Nasdaq relating to the failure to maintain a minimum of two active market makers for the company's common share purchase warrants, as required for continued listing of the warrants on Nasdaq. Olicom appealed Nasdaq's determinations of noncompliance, and a hearing has been scheduled for February 24, 2000.
Edited by John Spofford