10.03.2014 22:59:38
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Ad hoc: ADVA Optical Networking SE Acquires Oscilloquartz SA
ADVA Optical Networking SE / Keyword(s): Acquisition / Ad hoc: ADVA Optical Networking SE Acquires Oscilloquartz SA . Ad hoc announcement according to § 15 WpHG. Processed and transmitted by Nasdaq OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.
Strategic Purchase Expands Addressable Market for Syncjack(TM)
Timing Distribution and Assurance
Martinsried/Munich, Germany. March 10, 2014. Today ADVA Optical Networking SE signed a definitive agreement to acquire all shares in Oscilloquartz SA. Oscilloquartz SA is a leading solutions provider for precise network synchronization founded in 1949 and based in Neuchatel, Switzerland. The Oscilloquartz product portfolio includes technology for timing sources and timing distribution for legacy and next-generation packet networks.
Under the terms of the agreement, ADVA Optical Networking SE will acquire all shares of Oscilloquartz SA via a cash payment of CHF 3.0 million. The acquisition is subject to standard closing conditions and is expected to close in early April 2014.
The acquisition of Oscilloquartz SA is of strategic importance to ADVA Optical Networking. The acquired company's technology will help ADVA Optical Networking to further strengthen the timing element in its connectivity solution for mobile communication networks. It will allow ADVA Optical Networking to offer accurate timing delivery and assurance solutions to all industries, including providers of LTE-Advanced and next-generation mobile networks.
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Published By:
ADVA Optical Networking SE, Martinsried/Munich and Meiningen, Germany
www.advaoptical.com
For Press:
Gareth Spence
t +44 1904 699 358
public-relations(at)advaoptical.com
For Investors:
Karin Tovar
t +1 201 940 7212
investor-relations(at)advaoptical.com
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ADVA Optical Networking SE via Globenewswire
HUG#1767767
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ADVA Optical Networking SE
Campus Martinsried, Fraunhoferstr. 9a Martinsried/Munich Germany
WKN: 510300;ISIN: DE0005103006;
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