Chinese Investors Acquire Source PhotonicsMonday, January 23, 2017
Optical component maker Source Photonics has been sold to two Chinese private equity firms, the company has announced.
Terms of the deal between Source Photonics, in West Hills, and Redview Capital and Asia-IO, in Hong Kong, were not disclosed. The company was sold by Francisco Partners in San Francisco.
Francisco acquired Source Photonics in 2010 from Chatsworth-based MRV Communications Inc. in a transaction valued at $146 million.
Chief Executive Doug Wright said the building blocks are now in place for Source Photonics to accelerate its growth in the global optical communications market.
“We look forward to working with Redview Capital and Asia-IO as we continue to execute on our strategic plan,” Wright said in a prepared statement.
Source Photonics develops and manufactures optical components used by telecommunications service providers to provide high-bandwidth video, voice and data services.