Enablence to Buy ANDevices
OTTAWA, Ontario, Jan. 18, 2007 -- Enablence Technologies Inc., an Ottawa developer of fiber-to-the-home (FTTH) transceivers for optical modems, announced today it will acquire ANDevices Inc. of Fremont, Calif. for $13.5 million and 9,085,113 shares.
Enablence, which completed its public offering in October, will acquire ANDevices, a supplier of planar lightwave circuit (PLC)-based photonic devices for the access, metro and long-haul communication markets, through a US subsidiary. The deal is expected to be completed by Feb. 15, subject to customary approvals.
Enablence president and CEO Arvind Chhatbar said, “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."
This is Enablence's second acquisition in less than a year. It acquired Albis Optoelectronics, a Zurich, Switzerland-based supplier of high-speed photodetectors, in March.
For more information, visit: www.enablence.com