FUJIKURA LTD. STATES INTENT TO ACQUIRE BATTELLE VENTURES’ NEW JERSEY PORTFOLIO COMPANY NISTICA, INC.
Bridgewater-based developer of wavelength selective switches to network equipment manufacturers will operate as a Fujikura subsidiary
PRINCETON, N.J., April 9, 2012 – Fujikura Ltd., a global supplier of optical fibers and fiber-optic components, announced today it intends to acquire Nistica, Inc., which supplies wavelength selective switches (WSS) to network equipment manufacturers. Fujikura has been Nistica’s strategic investor, a joint developer of R&D, a manufacturing partner and a sales channel for the Japan market since 2007.
Under the terms of the agreement, Bridgewater, N.J.-based Nistica will operate post-acquisition as a Fujikura subsidiary with its founders and key employees continuing the company’s development of innovative optical products in the Garden State. Fujikura’s support, said Nistica CEO Ashish Vengsarkar, “will enable the company to scale its infrastructure and add new employees as the business expands it operations.”
Nistica has been a Battelle Ventures portfolio company since 2008 when the venture firm and its affiliate fund, Innovation Valley Partners, led the company’s Series B funding round. The two funds subsequently led two additional financing rounds.
Vengsarkar pointed out that Battelle Ventures General Partner Ralph Taylor-Smith, who has been an active board member for more than three years, “provided valuable insight right from the initial investment, through the growth stages and into the deal development, as he had experience in facilitating similar cross-border M&A transactions.”
“We’ve enjoyed taking a leadership role in growing a promising optical products innovator into an important player in the worldwide WSS market,” said Taylor-Smith, who is based in Battelle Ventures’ Washington, D.C. office. “Nistica has a bright future and Battelle Ventures achieved a good financial exit,” he continued, although he declined to provide specifics.
Founded in 2005, Nistica raised more than $30M in equity investment and received a $1-million Edison Innovation Fund investment from the New Jersey Economic Development Authority.
“As we enter a new stage in our company’s life,” said Vengsarkar, “Fujikura will provide the financial and R&D resources to speed development and bring new agile optical products to a resurgent WSS market, which is expected to grow between 15 and 20 percent annually during the next few years.”
For more information, see Fujikura’s press release: Fujikura Announces Intent to Acquire Nistica
Note: Battelle Ventures and Innovation Valley Partners are registered trademarks of BVP Partners, LLC. The names of other organizations, companies, products or services mentioned herein may be the trademarks of their respective owners.