Enablence Technologies Completes Acquisition of Albis Optoelectronics AG
OTTAWA, ONTARIO–(CCNMatthews – March 21, 2007) – Enablence Technologies Inc. (“Enablence” or the “Corporation”) (TSX VENTURE:ENA), a developer of Fiber-to-the-Home (FTTH) transceivers for optical modems, today announced that the conditions of the purchase agreement dated March 19, 2007 between Enablence and Albis Optoelectronics AG (“Albis”), disclosed in our press release on March 19, 2007, have been fulfilled and the acquisition of Albis has completed. Albis is a leading supplier of photodiodes for the datacom and Fiber-to-the-Home markets.
“As a subsidiary of Enablence, Albis will provide us with a portfolio of leading edge photodiode product lines, a diversified worldwide customer base, a fab capable of shipping 10 million chips per year and a presence in the European marketplace,” announced Arvind Chhatbar, the Chief Executive Officer of Enablence. “We are delighted that Peter Cairoli will continue as President and Managing Director of Albis”.
Pursuant to the Corporation’s stock option plan (“the Plan”); the Board of Directors of Enablence has granted to Peter Cairoli options to acquire 300,000 common shares of the Corporation. An additional 300,000 options have been granted to Albis management. Twenty-five percent of the stock options vest immediately while the balance vests over the next year in compliance with the Plan. The stock options have an exercise price of $1.37 per share (the closing price on March 20, 2007) and are exercisable on or before March 20, 2017. After these grants, 5,317,000 options to purchase common shares remain available for issuance under the Plan.
About Enablence Technologies Inc.
Enablence products are used in optical modems that are located inside the consumer’s homes (i.e. for the delivery of high speed data/voice/video). Enablence designs and manufactures optical components, in particular triplexers and diplexers, using its proprietary Planar Lightwave Circuit (PLC) “Dispersion Bridge” platform, for the Fiber-to-the-Home (FTTH) market. These devices are filters that are embedded on a chip that are capable of processing optical signals at a low cost.
About Albis Optoelectronics:
Enablence’s subsidiary, Albis Optoelectronics, is an ISO9001:2000 certified designer, developer and manufacturer of high-speed single channel and array photodiode chips for fiber optic datacom and telecom applications. The diversified product portfolio is designed to support 2.5, 4, 10 and 40 Gbit/s communication links as well as analog microwave applications. The Zurich based fabrication facilities offer full in-house production from front-end to back-end and includes a class 100 clean room and extensive test and qualification laboratories.
Forward Looking Statements
The statements in this press release may contain forward looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Corporation’s expectations and projections.
The TSX Venture Exchange has not approved this press release and does not accept responsibility for the adequacy or accuracy of this press release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Enablence Technologies Inc.
Chief Executive Officer