Enablence and DuPont Deal
Under the terms of the Agreement Enablence will issue common shares equivalent to US$9.5M based on a 30 day average share price prior to the closing of the transaction for the assets and the investment. All shares issued will be subject to the statutory 120 days hold period. The conditions are expected to be satisfied on or before July 24, 2008.
DuPont Photonics has developed a switching fabric using Planar Lightwave Circuits (PLCs) that enable such devices as integrated Reconfigurable Optical Add Drop Multiplexers (ROADM), 1xN, MxN and NxN switches and variable optical attenuators. All the intellectual property and associated know-how will be transferred to Enablence under the terms of the Agreement.
“DuPont Photonics’ product portfolio is complementary to our current component and subsystems offerings and is consistent with our vertical integration strategy that allows us to build on our core technology strength with higher value added products,” explained Arvind Chhatbar, CEO of Enablence. “Our acquisitions allow us to focus on capturing innovative products and technologies that will help us solidify our Planar Lightwave Circuit (PLC) leadership position in the access, metro and long haul markets. We are also pleased with the investment DuPont is making in Enablence which will permit us to continue to build on the product portfolio we are acquiring from DuPont,” added Chhatbar.
Enablence Technologies Inc. (Toronto: ENA)