Enablence Technologies
Inc., a developer of Fiber-to-the-Home (FTTH) transceivers for optical modems,
today announced that it has signed a definitive agreement to acquire all of
the outstanding shares of ANDevices Inc., subject to certain approvals, consents
and conditions. ANDevices is a supplier of Planar Lightwave Circuit (PLC) based
photonic devices for the Access, Metro and Long-Haul communication markets and
is based in Fremont, California.
Under the terms of the definitive agreement, Enablence will acquire, through
a wholly owned US Subsidiary, all
the shares of ANDevices for an aggregate purchase price of US $13.5 million
and 9,085,113 common shares of
Enablence. All conditions pursuant to this agreement are expected to be fulfilled
prior to February 15th 2008.
“The acquisition of ANDevices provides Enablence with a secure wafer
fabrication facility for Fiber-to-the-Home
transceivers, it also gives us the ability to expand our product portfolio and
to continue to strengthen our
leadership position in PLC based products,” explained Arvind Chhatbar,
the President and Chief Executive
Officer of Enablence Technologies Inc.
“We are excited to become part of Enablence,” commented Dr. Jacob
Sun, the Chief Executive Officer of
ANDevices. “We have been a key supplier of PLCs to Enablence and we provide
complementary product
offerings that will interface with Enablence’s transceivers. We believe
the synergies created by this acquisition
will permit us to supply a range of new PLC based products for optical networks
and other applications.”
“This acquisition is part of Enablence’s ongoing vertical integration
strategy and allows us to maintain our
competitive edge while increasing our global presence and product capabilities,”
added Mr. Chhatbar.
This is the second acquisition that Enablence has made in the past twelve months.
In March of 2007, Enablence
acquired Albis Optoelectronics a supplier of high speed photodetectors based
in Zurich, Switzerland.
