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January 26, 2007
CHATSWORTH, Calif. -- MRV COMMUNICATIONS, INC. (Nasdaq: MRVC - News) announced today that it has entered into a definitive agreement to acquire Fiberxon, Inc., a leading supplier of transceivers for Metro, Access, and PON applications. The consideration from MRV to Fiberxon shareholders is approximately $131 million in a combination of cash and stock. Following the closing of the transaction, MRV intends on combining Fiberxon with Luminent, its wholly-owned subsidiary. Luminent is a global supplier of Metro transceivers and the market-leader in transceivers for fiber-to-the- premise (FTTP) deployments.
Near Margalit, CEO of Luminent, stated "Consolidation among the communications service providers and the convergence of telecom and datacom networks is forcing changes throughout the communications equipment supply chain. System OEMs are merging and in turn are seeking optical component suppliers that provide a broader range of solutions, continued device innovation and competitive prices. The inclusion of Fiberxon into Luminent addresses the objectives of our customers, increases customer diversification and positions the combined company to be the leading supplier of optical component solutions for applications from the edge to the core of today's networks. We are very impressed with what Fiberxon has accomplished since their inception, and believe the integration of the two senior management teams will strengthen the combined company. We envision that the combined Luminent/Fiberxon will have the customer relationships, technology and manufacturing scale required to service large scale Tier 1 system manufacturers globally."
MRV Communications Inc. (Nasdaq: MRVC)
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