SUNNYVALE, CA--(Marketwired - Aug 14, 2015) - Infinera (NASDAQ: INFN), provider of Intelligent Transport Networks, announced that its offer to acquire Transmode (OMX: TRMO) has been accepted by shareholders representing approximately 95.8 percent of the outstanding shares and votes in Transmode. The transaction is now slated to close on or around August 20, 2015. Of the shares tendered, approximately 63 percent were tendered under the cash and stock mix alternative, and approximately 37 percent were tendered under the all-cash alternative. This will result in final consideration comprised of approximately 7.9 million shares of Infinera common stock and the remainder in cash.
The combination of Infinera and Transmode brings together into one company a complementary set of customers, products, and technologies. Transmode's strength in metro packet-optical applications complements Infinera's industry leading long-haul and metro Cloud solutions. The combination enables Infinera to offer an end-to-end portfolio addressing the metro aggregation market including metro core, metro edge, and metro access with solutions optimized for fast growing applications including mobile fronthaul and backhaul, broadband aggregation, and business Ethernet services with Metro Ethernet Forum (MEF) certification.
"The combination of Infinera and Transmode makes sense from both a market and cultural perspective and I am excited to see how the teams will build off of each other's strengths," said Andrew Schmitt, research director, Carrier Transport Networking at IHS Research. "This acquisition positions Infinera to capitalize on the growing metro market as it begins a transition to 100G."
"The acquisition of Transmode marks a significant milestone for both companies," said Tom Fallon, CEO of Infinera. "By bringing together two highly successful teams, we can offer an end-to-end portfolio to fully address the metro and long-haul optical transport markets. The deal accelerates our entry into the emerging 100G metro market, building upon our leadership position in long-haul and metro Cloud. I believe our common philosophies of profitable growth and putting customers first will enable Infinera and Transmode to be a powerful combination in the years ahead."
For complete terms of the offer please see documents posted at www.infinera.se
Infinera provides Intelligent Transport Networks for network operators, enabling reliable, easy to operate, high-capacity optical networks. Infinera leverages its unique large scale photonic integrated circuits to deliver innovative optical networking solutions for the most demanding network environments. Intelligent Transport Networks enable carriers, Cloud network operators, governments and enterprises to automate, converge and scale their datacenter, metro, long-haul and subsea optical networks. To learn more about Infinera visit www.infinera.com, follow us on Twitter @Infinera and read our latest blog posts at blog.infinera.com.
Infinera and the Infinera logo are trademarks of Infinera Corporation.
This press release contains forward-looking statements including, but not limited to, statements relating to Infinera's belief that the combination of Infinera and Transmode will be a powerful combination in the years ahead. These statements are not guarantees of results and should not be considered as an indication of future activity or future performance. Actual results may vary materially from these expectations as a result of various risks and uncertainties. Information about these risks and uncertainties, and other risks and uncertainties that affect Infinera's business, is contained in the risk factors section and other sections of Infinera's Quarterly Report on Form 10-Q for the quarter ended June 27, 2015 as filed with the SEC on July 31, 2015, as well subsequent reports filed with or furnished to the SEC. These reports are available on Infinera's website at www.infinera.com and the SEC's website at www.sec.gov. Infinera assumes no obligation to, and does not currently intend to, update any such forward-looking statements.
NewsMaker is an Australian Press Release Distribution and Social Media Marketing service founded in 2004. The company today represents over 22,000 brands who seek to share their content with journalists, bloggers and the community.
P: +61 414 69 70 71