Enablence to buy Teledata Networks
Canada’s Enablence Technologies, which is a fiber-to-the-premises equipment provider, said today that it is buying Israel-based Teledata Networks.
Enablence said it would pay $10 million in cash, as well as $10 million in secured notes that will be payable over two years.
The company will add another $30 million of its common shares at the closing based on a pricing formula in the agreement. The closing date will depend on statutory approvals in Israel, Enablence said.
“With this merger, Enablence will become a strategic player in the global broadband market, with the critical mass to meet the needs of service providers in established and emerging markets and the ability to service Tier 1 operators internationally,” said Arvind Chhatbar, chairman of Enablence.
Teledata is a provider of products and solutions that help telecom providers to smoothly migrate to next-generation networks. Teledata has accumulated a wide installed base, spanning millions of lines in more than 55 countries worldwide, including Brazil, Chile, Costa Rica, Kazakhstan and South Africa, many of which are Tier 1 service providers.