Item 7.01 Regulation FD Disclosure.

On April 29, 2022, DZS Inc. (the "Company") entered into an Asset Purchase Agreement (the "Asset Purchase Agreement") to acquire certain assets and liabilities of Adaptive Spectrum and Signal Alignment, Incorporated ("ASSIA"), an innovator in consumer experience and service assurance software solutions. The proposed acquisition will enhance the Company's DZS Cloud platform solutions offerings and expand its recurring Software-as-a-Service (SaaS) revenue. The closing of the transactions contemplated by the Asset Purchase Agreement (the "Closing") is subject to the approval of ASSIA's shareholders and other customary conditions, and will occur within five days following the satisfaction of all closing conditions. Either party will be permitted to terminate the Asset Purchase Agreement if the Closing has not occurred on or before August 15, 2022. A press release related to the execution of the Asset Purchase Agreement is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. -------------------------------------------------------------------------------- The information furnished in Item 7.01 of this Form 8-K, including the exhibit attached, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filings under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.



(d) Exhibits.

Exhibit No.                               Description

   99.1         Press Release dated May 2, 2022
    104       Cover Page Interactive Data File (embedded within the Inline XBRL
              document)

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