MRV To Merge With Luminent Subsidiary (Fiber News)
MRV Communications plans to merge with its majority-owned subsidiary, Luminent, one of the few manufacturers that supplies both active and passive devices for metro optical networks. Luminent spun off from MRV after an initial public offering in November 2000, although MRV retained 92% of the shares (see Compound Semiconductor November 2000, page 32). MRV, based in Chatsworth, CA, is currently considering its strategy for Luminent, which manufactures products including lasers and LEDs at its Luminent-Hsinchu Active Components division in Taiwan. "Unifying Luminent and MRV is expected to enhance our competitive position and generate substantial savings in the consolidated results," said MRV s president and CEO Noam Lotan. The move will also allow Luminent to invest and improve its technology and its bottom line.