|[April 09, 2012]
Fujikura Ltd. States Intent to Acquire Battelle Ventures' New Jersey Portfolio Company Nistica, Inc.
PRINCETON, N.J. --(Business Wire)--
Ltd., a global supplier of optical fibers and fiber-optic
components, announced today it intends to acquire Nistica,
Inc., which supplies wavelength selective switches (WSS) to network
equipment manufacturers. Fujikura has been Nistica's strategic investor,
a joint developer of R&D, a manufacturing partner and a sales channel
for the Japan market since 2007.
Under the terms of the agreement, Bridgewater, N.J.-based Nistica will
operate post-acquisition as a Fujikura subsidiary with its founders and
key employees continuing the company's development of innovative optical
products in the Garden State. Fujikura's support, said Nistica CEO
Ashish Vengsarkar, "will enable the company to scale its infrastructure
and add new employees as the business expands it operations."
Nistica has been a Battelle
Ventures portfolio company since 2008 when the venture firm and its
affiliate fund, Innovation Valley Partners, led the company's Series B
funding round. The two funds subsequently led two additional financing
Vengsarkar pointed out that Battelle Ventures General Partner Ralph
Taylor-Smith, who has been an active board member for more than three
years, "provided valuable insight right from the initial investment,
through the growth stages and into the deal development, as he had
experience in facilitating similar cross-border M&A transactions."
"We've enjoyed taking a leadership role in growing a promising optical
products innovator into an important player in the worldwide WSS
market," said Taylor-Smith, who is based in Battelle Ventures'
Washington, D.C. office. "Nistica has a bright future and Battelle
Ventures achieved a good financial exit," he continued, although he
declined to provide specifics.
Founded in 2005, Nistica raised more than $30M in equity investment and
received a $1-million Edison Innovation Fund investment from the New
Jersey Economic Development Authority.
"As we enter a new stage in our company's life," said Vengsarkar,
"Fujikura will provide the financial and R&D resources to speed
development and bring new agile optical products to a resurgent WSS
market, which is expected to grow between 15 and 20 percent annually
during the next few years."
For more information, see Fujikura's press release: Fujikura
Announces Intent to Acquire Nistica
Note: Battelle Ventures and Innovation Valley Partners are registered
trademarks of BVP Partners, LLC. The names of other organizations,
companies, products or services mentioned herein may be the trademarks
of their respective owners.
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