PacketFront Network Products sold to Fiber Access Holding
Fiber Access Holding AB has acquired fiber-to-the-home (FTTH) equipment vendor PacketFront Network Products AB. Terms of the deal, which closed October 26, 2012, were not disclosed.
PacketFront Network Products specializes in point-to-point FTTH equipment based on its Advanced Service Router (ASR) product line. It was created this past April as a subsidiary within the PacketFront Group when the group reorganized into a holding company with four subsidiaries . Fiber Access Holding is a new company that includes investment from Swedish investment company ShortCap as well as PacketFront Network Product’s CEO Johnny Hedlund and CTO Stefan Tegenfalk.
“We are very enthusiastic about our acquisition of PacketFront Network Products AB, and we are looking forward to continuing to develop the business together with the company management that the company so successfully has established over the past 10 years,” said Eric Severin, chairman of Fiber Access Holding AB and a partner in ShortCap.“
The Fiber Access Holding AB acquisition is the next natural step in the process to further develop our potential in fiber-based broadband. Myself and the whole team within PacketFront Network Products AB look forward to work with Fiber Access Holding in the development of existing and next generation access-products,” said Hedlund. “For our current customers, this transaction has no practical implications but over time they will see an increased offering of products and features to further lower operational costs and to increase service flexibility in their broadband networks.”
The above information is edited by 10GTEK.
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