SAN DIEGO, Oct. 12 -- In a move designed to bolster its knowledge of and access to the optical network market, LightPointe Communications Inc. has acquired the Optical Products Division of Teleconnect GmbH in Dresden, Germany. The manufacturing facility will become a wholly owned subsidiary of LightPointe Communications and will operate with the name LightPointe Europe GmbH. Monetary and conditional terms of the acquisition were not released.
Establishing a strong position in Germany allows us to better serve international markets where demand is high for broadband, optical networking products, said Peter Frasso, LightPointe president, COO and interim CEO. This acquisition fits perfectly into our business strategy to provide reliable and cost-effective solutions to customers looking to address the problem of last-mile connectivity.
LightPointe Communications is a provider of free-space optical networking products combining laser-optic and microwave technology that connect businesses to fiber infrastructure in metropolitan areas. The German government's Industrial Investment Council, designed to promote investment in German companies, helped LightPointe with the acquisition.