NOVEMBER 6, 2009 -- Optical Cable Corp. (OCC) has acquired Applied Optical Systems, Inc. (AOS), a designer, developer, and manufacturer of specialty fiber-optic connectors and connectivity products for military and harsh environment applications. The acquisition was completed on October 31, 2009, and AOS is now a wholly owned subsidiary of OCC.
OCC acquired Applied Optical Systems by exercising a warrant issued by AOS in April 2005 (as amended) for the issuance of new equity and acquiring all of the remaining capital stock of AOS from AOS's shareholders.
"The acquisition of Applied Optical Systems is another important step forward in OCC's efforts to provide our customers with more complete cabling and connectivity solutions. Further, the acquisition of Applied Optical Systems builds on OCC's strong existing presence in the military and harsh environment markets," stated Neil Wilkin, president and CEO of OCC.
Applied Optical Systems' product line includes specialty fiber-optic connectors and connectivity offerings for military, mining, oil and gas, industrial, broadcast, and other harsh environment applications. AOS is located near Dallas, TX, and employs approximately 40 people, including engineering, manufacturing, and office personnel. AOS's net sales were approximately $7.0 million (unaudited) for the 12 months ended September 30, 2009.
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