MRV Starts Shedding Pieces

We last left MRV Communications Inc. (Nasdaq: MRVC) trying to sell its Network Equipment Group. The company made a little bit of progress in that direction this week. (See MRV Considers Its Exit.)

Dilip Singh, who had been interim CEO of MRV, quit that job Monday, as MRV reported in a Securities and Exchange Commission (SEC) filing the next day. Singh's duties are being taken over, for now, by Chief Financial Officer Chris King -- the interim interim CEO, you might say.

As for why Singh left, the filing only mentions the usual "pursue other interests" reason.

Then, on Wednesday, MRV filed another SEC document, saying it's struck an agreement to sell CES Creative Electronic Systems SA. CES is a Switzerland-based avionics company and, weirdly, is part of the Network Equipment Group. It's going to Vinci Capital Switzerland SA for CHF 25.8 million (US$28 million), and the deal is expected to close in January.

MRV announced in September that it was thinking about alternatives for the Network Equipment Group -- the kind of language that usually means the company is hoping to sell something off. The Optical Communications Systems division is the best known part of the group; there's also a Taiwan-based optical-components division called Appointech.

— Craig Matsumoto, West Coast Editor, Light Reading

Iluzun 12/5/2012 | 4:46:58 PM
re: MRV Starts Shedding Pieces

To announce availability of the various 100G products.  Release updated functionality of

the Lambda Driver/ROADM/Optiswitch lines.  Hire a more 'charismatic' persona for the CEO

postion.  All three, CEO, 100G & Opti may present unique 'possibilities' for

differentiating the co. 


Pete Baldwin 12/5/2012 | 4:47:01 PM
re: MRV Starts Shedding Pieces

OK, so the avionics piece is moved. Still having trouble seeing a possible buyer for the rest of the networking group, though. What other options would be viable?

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