Entrada article from todays San Diego Union Tribune:
The price of shares in Entrada Networks, a new San Diego-based network technologies company, popped almost 63 percent yesterday, the first day of trading after the completion of a reverse merger.
Entrada Networks was formed from the combination of Osicom Technologies' Maryland-based Entrada unit and Sync Research of Irvine. Sync was a manufacturer of wide-area network equipment that never showed a profit since its stock began trading in 1995 at $20 a share.
On Thursday, Sync's stock closed at $4.38 a share. But investors reacted enthusiastically yesterday after the reverse merger closed and Osicom moved in.
The price of the renamed company, which began trading yesterday under the ticker symbol ESAN, jumped $2.75 to close at $7.13 in trading of 733,500 shares.
A spokesman said the 63 percent spike amounted to a Wall Street vote of confidence in Osicom and its plan to focus Entrada Networks on so-called Storage Area Networking technologies.
Through the merger, Osicom acquired about half of the 10.8 million outstanding shares of Entrada Networks.
Osicom Technologies supplies metropolitan optical networking systems through its San Diego-based subsidiary, Sorrento Networks. Osicom's optical networking products address the access, aggregation, transport, switching and network-management needs of telecommunications carriers and metropolitan fiber optic networks.
Storage Area Networks, or SANs, are used to provide data warehousing and clustering, online data storage and other types of data backup.
In 1999, Entrada began developing SAN products that use fiber channel technology, a specialized format for transmitting data over fiber optic lines or even copper wires.
The company now promises to develop a range of products used to connect and operate such networks, using fiber channel and other techniques.