January 18, 2008, Ottawa, Ontario--Enablence Technologies, a developer of Fiber-to-the-Home (FTTH) transceivers for optical modems, signed a definitive agreement to acquire all of the outstanding shares of ANDevices (Fremont, CA), subject to certain approvals, consents, and conditions. ANDevices is a supplier of planar lightwave circuit (PLC) photonic devices for the access, metro, and long-haul communication markets.
Under the terms of the agreement, Enablence will acquire, through a wholly owned US subsidiary, all the shares of ANDevices for an aggregate purchase price of US $13.5 million and 9,085,113 common shares of Enablence. All conditions pursuant to this agreement are expected to be fulfilled prior to February 15, 2008.
"The acquisition of ANDevices provides Enablence with a secure wafer fabrication facility for Fiber-to-the-Home transceivers, it also gives us the ability to expand our product portfolio and to continue to strengthen our leadership position in PLC-based products," says Arvind Chhatbar, president and CEO of Enablence Technologies.
This is the second acquisition that Enablence has made in the past twelve months. In March of 2007, Enablence acquired Albis Optoelectronics (Zurich, Switzerland), a supplier of high speed photodetectors.
"We are excited to become part of Enablence," says Jacob Sun, CEO of ANDevices. "We have been a key supplier of PLCs to Enablence and we provide complementary product offerings that will interface with Enablence's transceivers. We believe the synergies created by this acquisition will permit us to supply a range of new PLC-based products for optical networks and other applications."
