From the MRVC thread...Wireless Optics:
(BSNS WIRE) MRV Completes Jolt Acquisition
Business Editors
CHATSWORTH, Calif.--(BUSINESS WIRE)--May 1, 2000--MRV
Communications Inc. (Nasdaq:MRVC) today completed its previously
announced acquisition of Jolt Ltd., based in Jerusalem, Israel.
Jolt is a pioneer in wireless optics and its products are
currently operating on six continents, with over 3,000 systems already
installed. Jolt currently offers all-weather (except for heavy fog)
2km links and has built its reputation on conservative specifications
and reliability. In addition, their products are cost effective and
are designed for mass production. Jolt, which is located in Jerusalem,
was founded by Dr. David Medved, who is widely known for his
pioneering work in the physics of over-the-air optics. MRV believes
that the mesh architecture of Jolt's systems is much more cost
effective, reliable and has better performance than a point to
multi-point system, as suggested by Terabeam.
Noam Lotan, president and CEO commented: "MRV is targeting the
last mile for CLECs (Competitive Local Exchange Carriers), City
Carriers and Greenfield ISPs. Jolt is a leader in high-speed wireless
optics connectivity. MRV has system level connectivity solutions,
based on its OptiSwitch, FiberDriver and CWDM technologies. Adding the
wireless optic connectivity provides our customers with a broad choice
of solutions based on both wireless and/or wireline implementations."
MRV has already designed and demonstrated together with Jolt a
wireless IP metropolitan network capable of servicing thousands of
clients at low cost. Independently, MRV has been working on Wireless
Optics for some time, including the development of a "fog-proof"
solution to overcome the last reliability hurdle in free space optical
communications.
About MRV Communications
Over the past two years, MRV adopted a business model of creating
and managing several start-up companies and forming independent
business units in order to take them public. The principal focus of
the MRV group of companies is Optical components, Optical networks,
and Internet infrastructure.
MRV Communications Inc. is a world-class leader in optical
network components and systems. The company has leveraged its early
leadership in fiber optic transmission into a well-focused range of
solutions, integrating switching, routing, access servers and optical
transmission systems. MRV has initiated and funded cutting edge
start-up companies including Zaffire Inc., Charlotte's Networks,
Hyperchannel, Zuma Networks and most recently RedC Optical Networks
Inc., Optical Crossing and All Optical Inc. mrv.com.
This release may contain forward-looking statements that involve
risks and uncertainties. These statements may differ materially from
actual future events or results. Readers are referred to the documents
filed by MRV with the Securities and Exchange Commission, specifically
the most recent reports on Forms 10K and 10Q, which identify important
risk factors that could cause actual results to differ from those
contained in the forward-looking statements, including potential
fluctuations in operating results, dependence on new product
developments, rapid technological and market changes, manufacturing
risks, volatility of the company's stock price, financial risk
management, and future growth subject to risks. The announcement of
the anticipated filing of any registration statements contained herein
does not constitute an offer of any securities for sale.
--30--mk/la* ojm/la rs/la
CONTACT: MRV Communications Inc.
Diana Hayden, 818/886-6782 (Investor Relations)
diana@mrv.com
KEYWORD: CALIFORNIA INTERNATIONAL AFRICA/MIDDLE EAST
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS INTERNET MERGERS/ACQ
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