Friday, January 26, 2007
MRV Looks to Take Luminent Public, Buys Fiberxon
Chatsworth-based MRV Communications said this morning that it is looking to take its subsidiary, Luminent, public. The firm said it has not yet engaged an underwriter for the IPO. Separately, MRV said today that it has agreed to acquire Santa Clara-based Fiberxon, in a deal worth approximately $131M in cash and stock. MRV said it will combine Fiberxon with Luminent, which is a supplier of transceivers for metropolitan and fiber-to-the-premise telecommunications. Fiberxon employs over 700 in Santa Clara, Shenzhen, China and Chengdu, China and had revenues between $45 and $48M in 2006.