PacketFront, a provider of access network equipment, says it has sold its customer premises equipment (CPE) business unit to Dutch-based CPE specialist Genexis for an undisclosed sum. The transfer became effective on February 1, 2012.
"After this divestiture, PacketFront can focus on its three remaining businesses, our FTTH Access Division, our FTTH Network Solution Division and PacketFront Software Solutions AB, while still having access to a state-of-the art CPE portfolio," said Henrik Scharp, CEO of PacketFront.
The company says it plans to invest further in all areas – sales, marketing and R&D – of the remaining three business units to enhance their positions as suppliers of innovative equipment and software for broadband service providers.
PacketFront will continue to offer CPE products to existing and future direct customers as a distribution partner of Genexis.
"The PacketFront CPE portfolio, its market presence and customer base, is a perfect complement to our company," said Gerlas van den Hoven, CEO of Genexis. The acquisition is an important step in the company’s ambition to become a leading supplier of CPE equipment worldwide, he added.
In its interim year-end results, the PacketFront Group reported that it made an operating profit – albeit a small one – of approximately SEK 1 million (€113 million) in the fiscal year 2011, based on a total turnover of SEK 147 million.
For more information on FTTx/access systems and suppliers, visit the Lightwave Buyer’s Guide.