3 September 2003 Allen, TX Lightwave--Xtera Communications, a DWDM system provider, announced it has acquired the assets of privately held Metro-OptiX. The acquisition is on the heels of $30 million in new financing that Xtera announced last month. Terms of the acquisition were not disclosed. Metro-Optix, creators of the CityStream bandwidth manager for optical edge TDM, ATM, IP and MPLS services had garnered 15 customers and 18 lab trials prior to the acquisition.
"We were impressed by the loyalty of the Metro-OptiX customer base during our due diligence process," said Jon Bayless, chairman and CEO of Xtera. "Backed by the success of our recent funding efforts, we intend to fully support and expand the marketing of the CityStream product line."
"The value proposition of CityStream in reducing traffic backhaul and central-office costs was never in question," said Kris Shankar, vice president of marketing and business development at Metro OptiX. "Being part of Xtera reinforces the financial stability aspect, the last missing ingredient our customers aspired for." Kris Shankar will join Xtera in a similar role to ensure institutional and product continuity.
Xtera's Nu-Wave DWDM system delivers optical networking transport for regional, long-haul, and ultra-long-haul networks. Using patented technologies, Nu-Wave is the industry's only wide reach DWDM transport system, according to the company.