Acquisition done

Optical modems maker Enablence Technologies Inc. completes its US$35-million acquisition (US$13.5 million in cash plus 9,085,113 of its common shares) of Fremont, Calif.-based ANDevices Inc., the supplier of the wafers used in Enablence’s Enablence.jpgplanar lightwave circuit components. “Enablence now has its own internal large volume optical wafer fabrication facility for the production of PLCs for its FTTH transceivers as well as a suite of complementary optical products,” says Enablence CEO Arvind Chhatbar. “The acquisition gives us a strong US presence and the ability to expand our product offerings into emerging markets by combining our dispersion bridge technology with the capabilities of the ANDevices team.” ANDevices president and CEO Jacob Sun will remain with as the new US subsidiary as president, and take on the role of Enablence’s chief operating officer. ANDevices’ approximately 45 staff are expected to keep their jobs, according to Enablence.

Submit a comment

Please leave your name, which will be used to sign your submission to the SCANsite. Thanks for contributing your thoughts. Come back again. Tony Patterson, Editor & CEO.

© 2006 - 2009 SCAN
INTEGRITY INTELLIGENCE INFORMATION
Site by Citadel Rock
SCAN