Chatsworth’s MRV Buys Technology From Elbit
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MRV Communications Inc. has agreed to buy certain technology and assets from Elbit Ltd. for $23 million.
MRV, a Chatsworth-based maker of computer network products and semiconductor laser diodes, will acquire various technology from Elbit in the U.S., Europe and Israel. The deal includes certain marketing channels of Fibronics Ltd., an Elbit subsidiary.
MRV also said that it raised $30 million from a private placement of convertible debentures, which can be converted later into MRV common stock.
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