JANUARY 18, 2010 -- Optical networking test equipment and technology supplier Digital Lightwave Inc. says that Optel Acquisition Corp. has completed the "short form" merger of Optel into Digital Lightwave. As a result, Digital Lightwave is no longer a publicly held company.
Digital Lightwave announced its intention to go private last October.
Under the terms of the merger, Digital Lightwave stockholders who are not stockholders of Optel have a right to receive cash consideration of $0.055 per share after delivering their shares to American Stock Transfer & Trust Company LLC, the designated paying agent in connection with the merger.
"We view the merger as a very positive development," said Ted Myers, CEO of Digital Lightwave. "As a private company we are in a better position to focus our resources on product innovation, expanding into new markets and more effectively serving our customers through the next decade."
Stockholders of record will be sent written procedures for exchanging their stock certificates for cash within 10 days. Copies of the Schedule 13E-3 and other related documents filed by Optel with the U.S. Securities and Exchange Commission in connection with the merger and the going private transaction process were previously sent to Digital Lightwave stockholders of record on or about December 23, 2009.
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