MRV Sells Source Photonics To Francisco Partners

Chatsworth-based MRV Communications said late Tuesday evening that it has sold its Source Photonics unit to private equity firm Francisco Partners. MRV said that the deal was worth approximately $146M, made up of $113M in cash plus $33M in assumed debt. Source Photonics is a developer of optical communications components. MRV said the move is part of its "strategic shift" away from fiber optic components, and into optical networking products, services, and solutions. Source Photonics makes passive optical network (PON) susbsytems, optical transceivers, and other related optical components and modules.