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July 19, 2006
CHATSWORTH, Calif. -- Luminent Inc., a wholly-owned subsidiary of MRV Communications (Nasdaq: MRVC - News), announced today that they have mutually agreed with Huagong Tech Company Limited ("HG Tech") to terminate the agreement under which Luminent was to acquire HG Genuine Opto, a subsidiary of HG Tech, based on current market valuations of comparable companies and further due diligence. The parties have expressed the hope to find mutually agreeable terms in the future in which the synergies between HG Genuine and Luminent can be realized.
Luminent is a leading provider of Fiber to the Premise (FTTP), Metro Transceivers, and CWDM and DWDM Solutions, and has Research and Design centers and TL9000 certified production facilities in Chatsworth, CA and Hsin-Chu, Taiwan. Luminent has pioneered the field of triplexer transceivers for triple play voice, video, and data services and is currently the dominant supplier of triplexer transceivers worldwide. Luminent has shipped well over a half million triplexers for deployment in homes across North America. Luminent supplies a diverse customer base and includes top tier system OEMs such as Alcatel, Ciena, Motorola, Redback, and Tellabs in its top 5 customers.
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