ADVA Optical Networking SE Acquires Overture Networks Inc
Strategic Purchase Further Strengthens Company’s Cloud Access Solution
January 13, 2016
ADVA Optical Networking SE today signed a definitive agreement to acquire Overture Networks Inc. Overture Networks Inc. is a leading provider of Carrier Ethernet access solutions and network functions virtualization (NFV) technology, based in Raleigh, North Carolina, USA. Overture Networks, Inc. was acquired by a subsidiary of ADVA NA Holdings, Inc., a 100% owned subsidiary of ADVA Optical Networking SE.
Under the terms of the agreement, ADVA Optical Networking SE pays shareholders for all shares of Overture Networks Inc. a purchase price of USD 35 million, and upon completion of agreed conditions an earn-out of USD 5 million in cash. The purchase price will be financed through a bank loan. The acquisition is subject to customary closing conditions and is expected to be completed in January.
The strategic acquisition of Overture Networks Inc. is key for ADVA Optical Networking SE as it expands its NFV product portfolio. ADVA Optical Networking SE now offers communication service providers a complete NFV architecture that contains programmable hardware, comprehensive software and end-to-end orchestration solutions. This is critical for communication service providers as they continue to develop flexible cloud access infrastructures that can rapidly respond to new business demands.