July 11, 2008--Enablence Technologies (Ottawa, ON, Canada), a supplier of fiber-to-the-home (FTTH) equipment and optical components and subsystems for access, metro, and long haul markets, signed a definitive Asset Purchase Agreement with DuPont Photonics (Wilmington, MA), a wholly owned subsidiary of DuPont (Wilmington, DE), to acquire certain assets of DuPont Photonics. Concurrent with the Agreement, DuPont will make a cash investment in Enablence.
Under the terms of the Agreement, Enablence will issue common shares equivalent to $9.5 million based on a 30 day average share price prior to the closing of the transaction for the assets and the investment. DuPont Photonics has developed a switching fabric using planar lightwave dircuits (PLCs) that enable such devices as integrated reconfigurable optical add drop multiplexers (ROADMs), 1xN, MxN and NxN switches, and variable optical attenuators (see www.laserfocusworld.com/articles/294655). 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 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.
For more information, visit www.enablence.com.