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Friday, Mar 29, 2024

Buyout Takes MRV Private

The acquisition of MRV Communications Inc. was finalized Monday by a German telecommunications supplier. Adva Optical Networking validly tendered about 79 percent of the outstanding MRV shares as of Friday and on Monday acquired the remaining shares of the Chatsworth company. The total transaction was valued at $69 million. MRV becomes a subsidiary of Adva in Munich and will no longer trade on the Nasdaq. MRV supplies equipment and software to manage large computer networks operated by telecom service providers, cable television operators, manufacturers and other large public and private entities. It has about 235 employees. Shares closed down 2 cents, or a fraction of a percent, to $9.98 on the Nasdaq.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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