November 11, 2008--Enablence Technologies (Ottawa, ON, Canada), a publicly traded supplier of fiber-to-the-premises (FTTP) equipment for triple-play residential and business services, signed a definitive agreement to acquire Pannaway Technologies (), a provider of broadband access solutions that bring together traditional plain old telephone (POTs) service with active point-to-point optical networks. Pannaway will merge with Enablence's FTTx Networks Division, subject to certain approvals.
"With this merger, Enablence's FTTx Division will have one of the broadest set of access solutions in the industry, an expanded customer base of 420 customers and a capability to provide our customers with an evolutionary path from Ethernet/IP to FTTx using state of the art technologies," says Arvind Chhatbar, CEO of Enablence. Chhatbar added, "We anticipate that the merger will permit the entire FTTx Division to achieve positive cash flow in fiscal year 2010 contributing to our drive towards profitability by expanding our market reach to include existing DSL based services providers seeking to evolve their networks to optical access. The two companies have been working together over the last six months to provide solutions to customers which was a true catalyst for this deal. This will enable the combined FTTx Division to support all current customers and position it with more in-depth product lines for future growth. With the combined focus on access network solutions we will become a logical choice for customers when service providers are choosing their partners for access technology."
"Clearly the benefits of the combined entity is larger than the benefits of each company alone," said Mark Carpenter, president of Pannaway. "Enablence brings state of the art products, financial stability, new and innovative technologies and experienced staff and management to this deal with a strong dedication to access markets and customer focus."
Recent acquisitions (2008) by Enablence include DuPont Photonics (see www.laserfocusworld.com/articles/334043), Wave7 Optics (see www.laserfocusworld.com/articles/325801), and ANDevices (see www.laserfocusworld.com/articles/317602).
For more information, visit www.enablence.com.
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