MRV Communications, Inc. (OTC Pink Sheets: MRVC) (“MRV” or the “Company”), a leading provider of optical communications network infrastructure equipment and integration and managed services, today announced that it has completed the purchase of the remaining 40 percent interest in Italian multi-vendor systems integrator Tecnonet SpA, from minority interest stockholder, Mr. Mauro Sampietro. The transaction is valued at approximately €4.05 million. Additional financial terms of the transaction were not disclosed. Tecnonet SpA is a leading Italian provider of optical communications solutions, including MRV branded products, to Tier 1 and Tier 2 telecommunications service providers, large enterprises and jurisdictions. MRV’s initial investment in Tecnonet took place in 1998. Mr. Dilip Singh, CEO of MRV, stated, “This transaction will allow us to bring Tecnonet fully under the MRV umbrella in order to control and stabilize growth and profitability, and leverage Tecnonet’s distribution channels and enterprise and carrier relationships to enable greater brand recognition in the Italian market.” MRV is a leading provider of networking products, including MRV’s renowned Fiber Driver™ optical multi-service platform, the LambdaDriver™ WDM system, the Media Cross Connect™ physical layered switches and the OptiSwitch® platform. MRV’s business units also provide first-class WiFi infrastructure, SSL-VPN security, IP telephony and enterprise networking solutions and services. Following today’s transaction, these products and services are provided through four wholly-owned business units, as follows:
- MRV Optical Communications Systems is a global provider of carrier Ethernet, WDM transport and IT infrastructure management that enable the delivery of next-generation optical transport and Carrier Ethernet services over any fiber infrastructure;
- Alcadon AB is a Nordic-based provider of passive and active networking infrastructure with an extensive portfolio including a wide range of MRV products;
- Tecnonet SpA is an Italian-based provider of multivendor networking infrastructure, specializing in system integration and managed services; and
- Interdata is a French-based provider of networking solutions and services, specializing in optical networks, architecture and network security and IP telephony solutions for operators, enterprises and large jurisdictions.