Optical components provider Source Photonics has been sold by Francisco Partners to a private equity consortium led by Redview Capital and Asia-IO, with participation from investors including TR Capital, Axiom Asia and Aberdeen Asset Management, the company said.
Source Photonics is a global provider of communications and data connectivity components and modules in next-generation datacenters, mobile and fixed-line networks.
Source Photonics was originally acquired by Francisco Partners in October 2010 as a carve-out from MRV Communications. Following the acquisition, Francisco Partners recruited CEO Doug Wright to join the company in May 2013.
Evercore and CITIC Securities served as financial advisors to Source Photonics. The terms of the transaction were not disclosed.
Source Photonics is a leading provider of innovative and reliable optical communications technology that enables communications and connectivity in datacenters, metro, and access networks. It is headquartered in West Hills, California, with manufacturing facilities, R&D, and sales offices worldwide.
Francisco Partners is a private equity firm that specializes in investments in technology businesses.
Redview Capital focuses on traditional growth capital, on investments in new materials, clean energy, consumer, and advanced manufacturing in China.
Asia-IO specializes in implementing customized Asia/Asia-nexus private equity direct investment programs for large institutional and corporate investors. Asia-IO is headquartered in Hong Kong.