I'm new but from what I read, it was a name change. |
Here's the press release:
BroadBand Technologies Changes Name to Pliant Systems; Ticker Symbol Becomes PLNS
RESEARCH TRIANGLE PARK, N.C. (Dec. 13, 1999) ? BroadBand Technologies, Inc. (OTC Bulletin Board: BBTK) announced today that it changed the name of the company to Pliant Systems, Inc. The change was approved by the Corporation's shareholders at the annual meeting held December 7, 1999. Pliant Systems' common shares are expected to begin trading under the new stock symbol PLNS on the OTCBB December 14, 1999.
Shareholders adopted an amendment to change the name from BroadBand Technologies to distinguish the organization from other entities that are operating in the same space. Additionally, the company sought to pair the corporate name with the product name that is being adopted as part of the company's new branding strategy. That strategy creates a single name and image for the company and its products.
Founded in 1988 as BroadBand Technologies, Pliant Systems, Inc. is a communications equipment company that manufactures and markets integrated access platforms for the telecommunications industry. The company is headquartered in Research Triangle Park, NC.