Portsmouth-based Pannaway Technologies, a supplier of ethernet/IP multi-service access platforms for telecom service providers, has announced a definitive agreement to merge with Enablence Technologies Inc.
Under the terms of the agreement, Pannaway will merge Enablence's FTTx Networks division. The resulting Enablence Networks division products will be the first to take full advantage of Enablence's PLC (Planar Lightwave Circuit) technology, which combines optics on silicon communications chips. The merged entity is committed to provide continuity for the Pannaway product lines and service and support to all Pannaway customers.
Pannaway's customers have long appreciated its leadership in product solutions and world class support, said Mark Carpenter, president of Pannaway. The merger with Enablence further provides our customers the financial strength, public transparency and the advantages of Enablence's PLC technologies."
This merger provides the critical mass required for Enablence and Pannaway to serve the market in a way that is cost-effective and focused, while being profitable for Enablence," said Arvind Chhatbar, CEO of Enablence.
Both companies have enjoyed solid growth.
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