TORONTO, ONTARIO--(Marketwire - Sept. 15, 2011) - Enablence Technologies Inc. ("Enablence" or the "Company")(TSX VENTURE:ENA), a leading supplier of optical components and subsystems ("OCS") for access, metro and long-haul markets and fiber-to-the-home ("FTTH") equipment announced today that it has closed the two sales transactions that were announced on August 29, 2011. Enablence and certain of its subsidiaries have sold part of Enablence's Systems business, primarily the Trident7™ Universal Access Platform for delivery of FTTP services through optical networks to Aurora Networks, Inc. for a total purchase price of $5.1 million, comprised of $2.75 million of cash and the assumption of certain liabilities and contingent liabilities. The cash portion of the purchase prices includes a $0.75 million holdback, while $2.0 million of the cash portion of the purchase price was paid today. In addition, Enablence and certain of its subsidiaries have sold its MAGNM™ FX product line, by divesting certain assets, including $0.18 million of cash and transferring certain liabilities totaling $0.44 million to FX Support, LLC.
"This is an important step in repositioning the Company to focus on our core components business," said Tim Thorsteinson, CEO of Enablence.
About Enablence Technologies Inc.
Enablence Technologies Inc. is a publicly traded company that designs, manufactures and sells optical components and subsystems for access, metro and long-haul markets to a global customer base and fiber-to-the-home (FTTH) equipment. Enablence delivers a key portion of the infrastructure for next-generation telecommunication systems. The Company's product lines address all three segments of optical networks: Access, connecting homes and businesses to the network; Metro, communication rings within large cities; and Long-haul, linking cities and continents. For more information, visit www.enablence.com.
About Aurora Networks
Aurora Networks, the No. 1 optical transport solutions provider for cable operators, is evolving cable by focusing on innovative solutions that build future-proof networks to accommodate the cable subscriber services of today and tomorrow. Using its proven understanding of cable networks, Aurora Networks delivers unique solutions - such as its Fiber Deep architecture and universal digital return technology - to address specific issues of the cable industry. A technology leader driven by innovation and industry-firsts, Aurora Networks enables leading cable operators across the globe to compete with a cost-effective, optimized launch pad for next-generation cable services. To learn more about Aurora Networks' core cable solutions, please call 408-235-7000 or visit www.aurora.com.
About FX Support, LLC
FX Support consists of the same Inteleflex engineers and customer support personnel that have been supporting Inteleflex customers since 1999. The Inteleflex platform provides excellent POTS, ADSL2+, T1, and special services with integrated optical or T1 transport. For sales, please call (972) 633-1897, and for support, please call (972) 633-1899.
Forward-looking Statements
This press release may contain forward-looking statements, in particular with respect to the disposition of the Trident 7 and FX product lines that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business and the economic environment in which the business operates. All such statements are made pursuant to the 'safe harbour' provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution our readers of this press release not to place undue reliance on our forward looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's continuous disclosure documents that can be found on SEDAR www.sedar.com. Enablence does not intend, and disclaims any obligation, except as required by law, to update or revise any forward looking statements whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Chief Executive Officer
Enablence Technologies Inc.
(647) 729-1605