(TSX VENTURE: ENA) Enablence Technologies Inc. ("Enablence" or the "Corporation"), a developer of Fiber-to-the-Home (FTTH) transceivers for optical modems, today announced that it has signed an agreement to acquire all of the outstanding shares of Albis Optoelectronics AG ("Albis"), a leading supplier of photodiodes for the datacom and Fiber-to-the-Home markets. All conditions pursuant to this agreement are expected to be fulfilled on or about March 21, 2007.
"Under the terms of this Agreement, Enablence will acquire all the shares of Albis for $4,127,028.54 US dollars in cash consideration and 1,889,686 in common shares of Enablence Technologies Inc., at the average 10 day closing price of $1.10 per share," announced Arvind Chhatbar, the Chief Executive Officer of Enablence. "This acquisition is part of Enablence's plan to expand related product lines with a view to taking advantage of growing opportunities in the Fiber-to-the-Home market."
"Albis Optoelectronics is a well established manufacturer of high performance photodiodes that are critical for low cost Planar Lightwave Circuit solutions," added Mr. Chhatbar. "Albis' product lines complement Enablence's PLC based transceivers and business strategy in the expanding FTTH market."
"We are pleased with the growth prospects for the existing Albis product lines and for the new growth opportunities in products developed in combination with Enablence's core competencies and technology leadership in the PLC-based access market," stated Peter Cairoli, the President of Albis.
"This transaction will provide Enablence with a portfolio of leading edge photodiode product lines, a diversified worldwide customer base, a fab capable of shipping 10 million chips per year and a presence in the European marketplace," added Mr. Chhatbar.
About Albis Optoelectronics AG
Albis Optoelectronics is an ISO9001:2000 certified designer, developer and manufacturer of high-speed single channel and array photodiode chips for fiber optic datacom and telecom applications. The diversified product portfolio is designed to support 2.5, 4, 10 and 40 Gbit/s communication links as well as analog microwave applications. The Zurich based fabrication facilities offer full in-house production from front-end to back-end and includes a class 100 clean room and extensive test and qualification laboratories. Albis Optoelectronics was founded in August 2003 by Dr. Markus Blaser and Dr. Joerg Wieland after they acquired all of the assets associated with the photodiode business line of the former OptoSpeed.
About Enablence Technologies Inc.
Enablence products are used in optical modems that are located inside the consumer's homes (i.e. for the delivery of high speed data/voice/video). Enablence designs and manufactures optical components, in particular triplexers and diplexers, using its proprietary Planar Lightwave Circuit (PLC) "Dispersion Bridge" platform, for the Fiber-to-the-Home (FTTH) market. These devices are filters that are embedded on a chip that are capable of processing optical signals at a low cost.
Forward Looking Statements
The statements in this press release may contain forward looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Corporation's expectations and projections.
The TSX Venture Exchange has not approved this press release and does not accept responsibility for the adequacy or accuracy of this press release.
Contacts: Enablence Technologies Inc. Arvind Chhatbar Chief Executive Officer 613-270-7859
SOURCE: Enablence Technologies Inc.