[Techtaffy Newsdesk]
Fujikura has signed a definitive agreement to acquire privately held Nistica, a Bridgewater, New Jersey based company that supplies wavelength selective switches to Network Equipment Manufacturers. Under the terms of the agreement, Fujikura will acquire shares in Nistica that it does not currently own.
Nistica founders and key employees have signed agreements with Fujikura to ensure continued development of their products on the roadmap and, going forward, Nistica will operate as a subsidiary of Fujikura.
Nistica was founded in 2005 by Jefferson Wagener and Thomas Strasser, and has raised $31M in equity investment from Battelle Ventures, Novitas Capital, Technology Venture Partners, MMV Financial, Mizuho Capital, Fujikura, NTT Electronics and notable industry individuals Bill Cadogan and Kal Shastri.
The acquisition of Nistica is subject to various standard closing conditions and is expected to be complete in the first quarter of Fujikura’s fiscal year 2012. NTT Electronics Ltd. (NEL) will continue to hold its shares in the company going forward.