Enablence to acquire Albis to grow its FTTH offering
March 20, 2007, Ottawa, ON, Canada--Enablence Technologies, a developer of fiber-to-the-home (FTTH) transceivers for optical modems, announced that it has signed an agreement to acquire all of the outstanding shares of Albis Optoelectronics AG (Rüschlikon, Switzerland), a supplier of photodiodes for the datacom and FTTH markets.
"Under the terms of this Agreement, Enablence will acquire all the shares of Albis for just over $4.1 million dollars in cash consideration and 1,889,686 in common shares of Enablence Technologies, at the average 10 day closing price of $1.10 per share," announced Arvind Chhatbar, the CEO of Enablence. "This acquisition is part of Enablence's plan to expand related product lines with a view to taking advantage of growing opportunities in the FTTH market."
"This transaction will provide Enablence with a portfolio of leading edge photodiode product lines, a diversified worldwide customer base, a fab capable of shipping 10 million chips per year and a presence in the European marketplace," added Mr. Chhatbar.
For more information, visit www.enablence.com.