ADC Telecommunications Inc. today announced an agreement to acquire Fiber Optic Network Solutions (FONS) Corp., a m...
July 22, 2005
ADC Telecommunications Inc. today announced an agreement to acquire Fiber Optic Network Solutions (FONS) Corp., a manufacturer of high-performance passive optical components and fiber optic cable packaging, distribution and connectivity products.
FONS has 60 employees worldwide and estimated 2005 sales of US$95 million.
“FONS is a high-quality connectivity business that fits well with our strategy for capturing the strong growth potential of the FTTX market, which is in the early stages of its growth curve,” said Robert Switz, president and CEO of ADC.
ADC has agreed to acquire FONS for payments of US$172 million in cash, net of any FONS debt at the time of closing. This amount is inclusive of a retention bonus pool that will be paid to most of FONS’ current employees.
FONS’ Pathways(TM) FTTP Solutions enable the delivery of high-speed, bandwidth converged services over a single network and are tailored to support all major network segments including central office, outside plant and customer premise applications.