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Mar 25th, 2011
Finisar offers to acquire Ignis
Fiber-optic communications component and subsystem maker Finisar Corp of Sunnyvale, CA, USA has entered into a transaction agreement to make a recommended voluntary public cash offer to acquire all of the outstanding shares of Ignis ASA of Oslo, Norway not currently owned by Finisar for NOK8 per share, or an aggregate purchase price of up to about NOK425m ($76m).
Finisar has also just acquired a total of 18.3 million Ignis shares from certain existing Ignis shareholders, for NOK8 per share (a total of NOK147m, or $26m). This brings Finisar’s total ownership to about 25.7 million shares (32.6% of the outstanding Ignis shares on a fully diluted basis). Listed on the Oslo Stock Exchange, Ignis provides optical components and network solutions for fiber-optic communications. It operates globally through four subsidiaries: Syntune in Sweden, Ignis Photonyx in Denmark, SmartOptics in Norway, and Fi-ra Photonics (71.8% owned) in Korea. The firm’s product and services portfolio comprises passive optical components including optical chips, splitters and multiplexers, active optical components such as tunable lasers and modulators, and WDM-based solutions enabling the building of high-capacity optical networks.
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