Ottawa-based Enablence Technologies Inc. has purchased DuPont Photonics Technologies LLC in an asset deal.
Under the agreement, Enablence issued 6,847,638 common shares, at a price of $1.42 per share, as consideration for the acquisition of Wilmington, Mass.-based DuPont Photonics assets. DuPont has also agreed to invest $US 5 million in Enablence, leaving the total value of the deal at roughly US$9.5 million.
Enablence said the acquisition will help it deliver Planar Lightwave Circuits (PLC)-based products such as integrated Reconfigurable Optical Add Drop Multiplexers (ROADM), 1xN, MxN and NxN switches and Variable Optical Attenuators – all of which are key components in high demand in optical networks.
“Enablence was the best fit for the technology developed at DuPont Photonics given that Enablence is emerging as a leader in the PLC space,” Daminder Johar, general manager of Dupont Photonics, said. “The acquisition will permit DuPont Photonics customers to be serviced by a company that has a proven track record of delivering advanced photonic components in access, metro, and long haul communication markets.”
All shares issued as part of the agreement are subject to the statutory 120 days hold-period.