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Completion of Fiber Optic Network Solutions acquisition announced by ADC

Telecomworldwire, August 30, 2005

TELECOMWORLDWIRE-30 August 2005-Completion of Fiber Optic Network Solutions acquisition announced by ADC(C)1994-2005 M2 COMMUNICATIONS LTD http://www.m2.com

ADC (Nasdaq:ADCT), a provider of connections for wireline, wireless, cable, broadcast and enterprise networks, has announced that it has completed its acquisition of Fiber Optic Network Solutions (FONS) Corp, a manufacturer of passive optical components and fibre optic cable packaging.

The acquisition was completed for approximately USD172m in cash. This amount is inclusive of a retention bonus pool that will be paid to most of FONS' current employees, said the company.

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According to ADC, an undetermined charge for acquisition-related expenses will be taken by the company. Excluding the charge, amortisation of acquired intangibles and scheduled payments of a FONS employee retention pool, ADC expects the acquisition to be around USD0.00 to USD0.01 accretive to diluted earnings per share from continuing operations in its fiscal fourth quarter ending 31 October 2005 and around USD0.05 to USD0.10 accretive to diluted earnings per share from continuing operations in fiscal 2006.

((Comments on this story may be sent to tww.feedback@m2.com))

COPYRIGHT 2005 Ingram Investment Ltd.
COPYRIGHT 2005 Gale Group

 

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