MRV Sells Off Components Business

MRV Communications Inc. has sold off its components business to a private equity firm in a deal worth $146 million. The deal between Chatsworth-based MRV and Francisco Partners for Source Photonics was the best option to maximize long-term value for MRC shareholders, said company CEO Dilip Singh. “Source Photonics will continue normal operations while benefiting from Francisco’s expertise in the technology and telecommunications industries,” Singh said. Source Photonics is a differentiated platform for growth and profitability in the optical component space, said Keith Geeslin, of Francisco Partners. “We look forward to partnering with the management team to grow Source into one of the top global vendors for optical components,” Geeslin said. Mark R. Madler