MRV Communications, Inc. (NASDAQ: MRVC), a provider of innovative network solutions for data center operators, service providers, and enterprises, has announced that ADVA Optical Networking (FSE: ADV) has agreed to acquire MRV, the company said.
Under the terms of the agreement, ADVA Optical Networking will make a tender offer of USD 10.00 per share for all the outstanding common stock of MRV.
The agreement has been approved and unanimously recommended by both the board of directors of ADVA Optical Networking and the board of directors of MRV. The acquisition is subject to customary closing conditions, including the tender of at least a majority of MRV Communications, Inc. outstanding shares of common stock.
Cowen and Company, LLC is acting as financial adviser to MRV Communications, Inc. Norton Rose Fulbright LLP is serving as MRV Communications, Inc.´s legal adviser. Hogan Lovells is serving as ADVA Optical Networking´s legal adviser.
MRV Communications enables service providers, data center operators and enterprises to make their networks smarter, faster and easier to operate. MRV Communications, Inc.´s end-to-end portfolio includes innovative packet, optical and software platforms designed for flexibility and reliability.