MRV Communications to buy Fiberxon for 131 mln usd in cash and shares |
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Published
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Fri, 26 Jan 2007 14:29
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CHATSWORTH, Calif (AFX) - MRV Communications Inc said it will buy transceiver supplier Fiberxon for around 131 mln usd in cash and shares.The optical component and communications equipment maker said Fiberxon will be combined with its Luminent subsidiary, which is a supplier of Metro transceivers, following completion of the transaction expected in the first half of 2007.According to Fiberxon, its unaudited 2006 revenues are expected to be in the range of 45 to 48 mln usd.Both Fiberxon and Luminent have facilities in the US and China and MRV expects synergies from the expansion of Asian operations and the reduction of the cost of production through economies of scale and increased productivity.newsdesk@afxnews.comksCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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