IPG Photonics agrees to acquire Padtec Submarine Networks Division
IPG Photonics Corporation (Oxford, MA; NASDAQ: IPGP) today announced that it has signed a definitive agreement to acquire the submarine networks division (SND) of Padtec SA, a communications equipment company based in São Paulo, Brazil. Padtec SND is a provider of submarine networking technology and systems. The transaction has been approved by the Board of Directors of each company. Subject to satisfaction of customary closing conditions, the transaction is expected to close in the first quarter of 2019.
Padtec SND is a provider of submarine networking technologies, including optical line amplifiers (repeaters), as well as project planning, management, and execution services. Padtec SND's innovative undersea repeater technology and flexible business model align with the technical and business requirements of next-generation data center and Internet technology companies that are increasingly deploying submarine cable networks worldwide.
The acquisition of Padtec SND enables IPG to leverage core pump laser and fiber amplifier technology to advance the market for submarine networking systems says Ekaterina Golovchenko, IPG Photonics' Vice President of Telecommunication Systems. The selection of Padtech SND by a large Internet service provider to manage and execute the deployment of a high capacity submarine cable network in Brazil underscores their advanced submarine networking technologies, she adds, and says that combining Padtec SND's submarine network capabilities with IPG's high-power optical amplifier, Raman pumping, and WDM systems technologies allows them to capitalize on the growing number of undersea cable network deployments around the world.
SND has approximately 30 employees. The acquisition is not expected to be material to IPG's financial results for the fiscal year ended December 31, 2019.
SOURCE: IPG Photonics; https://investor.ipgphotonics.com/press-releases/press-release-details/2019/IPG-Photonics-Announces-Agreement-to-Acquire-Padtec-Submarine-Networks-Division/default.aspx
Gail Overton | Senior Editor (2004-2020)
Gail has more than 30 years of engineering, marketing, product management, and editorial experience in the photonics and optical communications industry. Before joining the staff at Laser Focus World in 2004, she held many product management and product marketing roles in the fiber-optics industry, most notably at Hughes (El Segundo, CA), GTE Labs (Waltham, MA), Corning (Corning, NY), Photon Kinetics (Beaverton, OR), and Newport Corporation (Irvine, CA). During her marketing career, Gail published articles in WDM Solutions and Sensors magazine and traveled internationally to conduct product and sales training. Gail received her BS degree in physics, with an emphasis in optics, from San Diego State University in San Diego, CA in May 1986.