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NEWS BUSINESS


IDT ACQUIRES COMMUNICATIONS IC DEVELOPER GIGPEAK FOR $250 MILLION


GigPeak, a semiconductor company grown through acquisition, has itself been acquired by Integrated Device Technology (IDT) for $250 million in cash. The transaction has been approved by the boards of both companies, with closing expected during the second quarter of 2017. GigPeak, formerly GigOptix, was


created in 2007 when Avi Katz took over iTerra Communications, a developer of gallium arsenide driver chips. The company changed its name in 2016 following the acquisition of Magnum Semiconductor. California-headquartered GigOptix


has operations in Auburn, California, as well as in Zurich, Switzerland, via its acquisition of Helix Semiconductors in 2008, and in Seoul, Korea, through its acquisition of TeraSquare in 2015. IDT believes that GigPeak’s optical


interconnect product and technology business will complement its own interconnect products. GigPeak’s products serve the communications, cloud data centre, and military and aviation markets. After the acquisition, IDT will be able to provide ultra-high-speed data connectivity products using electrical, RF, and optical technologies. ‘GigPeak is a recognised leader in


high performance optical, RF, and video transport technology, and a perfect fit for IDT. The products, technology, and culture of GigPeak complement and represent an acceleration of our current strategy,’ said Gregory Waters, IDT president and CEO. ‘We gain an exceptional group of talented people.’ Dr Avi Katz, founder, chairman and


CEO of GigPeak, said: ‘Our leading product suite, which currently addresses the need for greater bandwidth across the network, will now have the advantage of leveraging the scale of resources and broad distribution channels of IDT.’ The acquisition is structured as a


cash tender offer for outstanding issued common stock of GigPeak followed by a merger. The $3.08 per share consideration represents a premium of around 22 per cent to GigPeak’s closing share price on 10 February 2017.


6 FIBRE SYSTEMS Issue 15 • Spring 2017


@fibresystemsmag | www.fibre-systems.com


Colt plans European bandwidth assault with packet-optical equipment from Ciena


Pan-European carrier Colt Technology Services is deploying Ciena’s packet-


optical technology to future proof its network against the bandwidth demands of its customers driven by the explosion of IT applications, data, content and cloud computing. Colt announced in February it plans to invest


more than €200 million to triple the number of sites in its network capable of providing 100G enabled Ethernet and IP connectivity, and increase optical capacity up to 9.6Tb/s per site. Colt’s partnership with Ciena lays the


foundations for this bandwidth push across its 100G-enabled metro and multi-terabit backbone networks. Colt has deployed Ciena’s 6500 packet-optical platform to deliver services up to 100G over of a mix of 100G and 200G wavelengths, laying the groundwork to provide


higher bit-rate services of 200G, 400G and Flexible Ethernet services in the future. The network upgrade supports ultra-high


bandwidth services for enterprise and data centre interconnect (DCI) customers across several key European markets, as well as improving intercontinental connections into Asia. ‘As the applications and infrastructure that


power businesses increasingly move into the cloud and the data centre, the demand for reliable, scalable, and high-quality, business- grade connectivity continues to grow,’ said Rajiv Datta, CTO, Colt Technology Services. ‘By partnering with leading technology firms like Ciena, we are signalling our commitment to providing the intelligent, high-bandwidth networks enterprises require. Our new network will hugely benefit customers across Europe and Asia.’


Global private equity firm H.I.G. Capital has acquired substantially all the assets of Xtera Communications, a provider of bespoke sub-sea fibre-optic systems. Established in 1998 and


H.I.G. Capital acquires assets of Xtera Communications Carl Harring, MD at H.I.G.


based in the UK (Harold Wood, Essex) and the US (Allen, Texas), Xtera supplies un-repeatered and repeatered sub-sea systems, using high-performance optical amplifiers. Under H.I.G.’s ownership, Xtera’s management and technical team will remain at the helm.


Capital said: ‘We believe Xtera has considerable growth potential as an independent, well-funded business with a new ownership structure. Its world class IP protected technology is not only differentiated and superior to that of its competitors, but it is delivered to an impressive range of global clients at a cost-effective price point. We are excited to be working with this industry-leading team and our immediate focus will be to work with them to deliver and


build on existing contracts and over the long-term, provide the financial support to enable the company to fully capitalise on its technology with a broader base of customers.’ Stuart Barnes, founder of


Xtera, said: ‘We are delighted to announce our partnership with H.I.G. Capital, which has previously invested in the sector and has a proven understanding of how to grow specialist industrial suppliers into market-leading players. We share the same vision of strengthening Xtera’s footprint.’


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