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JUNE 2, 2008 -- Optical Cable Corporation (search for OCC) today announced that it has acquired Superior Modular Products Inc. (doing business as SMP Data Communications), a supplier of fiber-optic and copper connectivity products for the data-communications industry. The transaction was consummated on May 30, 2008. SMP Data Communications is now a wholly owned subsidiary of Optical Cable Corporation.
Optical Cable Corp. acquired SMP Data Communications from Preformed Line Products Company for a purchase price of $11.5 million, subject to certain minimum working capital requirements and related purchase price adjustments. The transaction was effected by an Agreement and Plan of Merger, dated May 30, 2008, whereby SMP Data Communications merged with a newly formed wholly owned subsidiary of Optical Cable Corporation.
"Our long-term strategy for Optical Cable includes expanding our product offerings to provide our customers with more complete cabling and connectivity solutions," explains Neil Wilkin, president and CEO of Optical Cable Corp. "This acquisition builds on Optical Cable's strong presence in the enterprise market and is a major step toward fulfilling our long-term vision for Optical Cable," he says.
SMP Data Communications will broaden Optical Cable's product offering to include fiber-optic and copper connectivity. SMP Data Communications says it manufactures more than 2,000 products, including high-performing enhanced Category 5e systems, high-density fiber-optic enclosures, and Category 6a connectivity offering 10-Gbit throughput.
"SMP Data Communications is an internationally respected and industry-leading innovator in copper and fiber-optic connectivity products," adds Wilkin. "Optical Cable now has the fiber-optic and copper connectivity products necessary for us to offer an integrated suite of high-quality cabling and connectivity solutions."
Founded in 1990, SMP Data Communications is located near Asheville, NC, and employs a total of approximately 120 persons, including manufacturing and office personnel. SMP Data Communications net sales (unaudited) were approximately $21.0 million for calendar year 2007.
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