MINNEAPOLIS, Aug. 30 -- ADC, a provider of connections for wireline, wireless, cable, broadcast and enterprise networks around the world, announced it has completed its acquisition of Fiber Optic Network Solutions (FONS) Corp., a manufacturer of passive optical components and fiber optic cable packaging, distribution and connectivity solutions. With the addition of FONS, ADC now becomes one of the largest suppliers of fiber-to-the-x (FTTx) solutions in the US, according to proprietary market share estimates.
The acquisition was completed for approximately $172 million in cash. This amount is inclusive of a retention bonus pool that will be paid to most of FONS' current employees; FONS has approximately 60 employees worldwide and estimated calendar 2005 sales of $95 million. According to ADC, the acquisition approximately doubles ADC's FTTx outside plant business to greater than 10 percent of total sales.
In addition to a facility in Marlboro, Mass., FONS has strategic partnerships and outsourcing relationships in countries including Mexico, Japan and China.
For more information, visit: www.adc.com