Jan 20 2008
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.