LG-Nortel closed its acquisition of Novera Optics Inc., a developer of fiber-optic access solutions that extend carrier Ethernet services from optical core networks to customer premises, for approximately $16M in cash, plus up to an additional $10M to Novera security holders based on achievement of future business milestones over the next 18 months.
Novera has developed an FTTx architecture based on Wavelength Division Multiplexing Passive Optical Network (WDM-PON) technology. To date, over 150K commercial lines have been deployed in South Korea using Novera’s wavelength-locked WDM-PON technology. Each ONT/ONU is interchangeable which reduces management, installation and inventory cost.
“Novera’s goal has always been to develop technologies that make it easier for carriers to deliver Ethernet-class FTTx services to their customers,” said John Barton, president and chief executive officer of Novera. “Our technology is a natural complement to Nortel’s and LG-Nortel’s Carrier Ethernet solutions. Nortel’s strong technology base and extensive distribution channels will ensure that service providers around the world can use our WDM-PON technology to more easily deliver high-speed FTTx services to their own customers.”
Novera Optics, which was founded in 1999, is headquartered in Santa Clara, California.http://www.lg-nortel.comhttp://www.noveraoptics.com
