Investment house, Schroder Ventures, has taken a controlling stake in $200 million (#122 million) wide-area networking business, Ascom Timeplex. Ascom AG, the previous owner of the company, will keep a "significant share" of the company, which will be renamed, Timeplex. Jacques de Labry, formerly an executive at GTE, General Electric, ITT and IBM, has been appointed president and CEO of the company. Timeplex, said Carl Parker, a partner at Schroder Ventures, has sales of around $200 million (#122 million), with a customer base of approximately 3,000, and sells TDM and frame relay equipment. Bob Jones, who was formerly with Sonix and then 3Com Sonix, and is now also a partner at Schroder Ventures, is understood to have assisted in brokering the deal.
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