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| Arvind Chhatbar, CEO of Enablence. (Darren Brown, OBJ) |
Enablence Technologies Inc. has bought assets of DuPont Photonics for US$9.5 million, with the Massachusetts company agreeing as part of the deal to invest $5 million in Enablence.
The deal, which was announced earlier this month, will give Enablence the intellectual property and assets for DuPont's planar lightwave circuits (PLC)-based components such as integrated reconfigurable optical add-drop multiplexers and other optical switches.
"The acquired intellectual property, facilities and product lines are complementary to Enablence's current operations in its optical components and subsystems division," said Enablence CEO Arvind Chhatbar in a statement. "This acquisition will provide an immediate revenue stream and an opportunity to cross-sell these DuPont Photonics products to our worldwide customer base."
Under the terms of the agreement, Enablence issued 6,847,638 common shares at $1.42 each as consideration for the acquisition of DuPont Photonics assets and the $5-million investment.
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