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Optical/IP

MRV Closes Creative Sale

CHATSWORTH, Calif. -- MRV Communications, Inc. (OTCQB: MRVC.PK - News) ("MRV" or the "Company"), a leading provider of optical communications network infrastructure equipment and integration and managed services, today announced that effective today it has closed the previously announced sale of CES Creative Electronic Systems SA (“CES”) through a definitive agreement with a consortium of European private equity firms led by Vinci Capital SA. Headwaters MB was the exclusive financial advisor to MRV for the transaction. The purchase price payable on closing was $28.4 million with $2.8 million of the proceeds going into an indemnification escrow account to be released in one year.

Barry Gorsun, Chief Executive Officer of MRV Communications noted, “This sale will allow us to focus on our core business units including OCS, Tecnonet, Alcadon, and Interdata, and we are steadfast in our efforts to drive shareholder value and enhance productivity.”

MRV Communications Inc. (Nasdaq: MRVC)

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