Digital Realty opens 46 Megawatt Data Center in Toronto

Digital Realty had opened its third data center in Toronto at the site of the former Toronto Star printing plant.

The facility will provide up to 46 megawatts of critical power capacity. It spans over 66,000 square meters (711,000 square feet).

Some highlights

• The new facility is engineered to deliver a Power Usage Effectiveness (PUE) of 1.25 annualized at full capacity and will be one of Canada's most efficient and reliable data centers.
• With 23 computer rooms ranging from 800 to 1,200 square meters (approximately 8,600 to 13,000 square feet), it can accommodate power capacities from one to three megawatts per room.
• Resiliencies range from n to 2n with a power density range of 1,000 to more than 4,000 watts per square meter (approximately 100 to 300 watts per square foot).
• The facility is adjacent to a utility sub-station, providing direct access to low-cost power.
• Proximity to downtown Toronto, major highways, and an international airport makes for easy accessibility.

"Toronto is home to a booming financial services industry and a burgeoning roster of large technology companies and emerging tech startups for whom digital transformation is driving enterprise initiatives," said Digital Realty Chief Executive Officer A. William Stein. "We are very excited to be converting the iconic Toronto Star building into a revolutionary new data center, ideal for cloud providers, financial services companies and enterprises of all sizes. The grand opening is another important milestone in achieving our strategic goal of building an unparalleled global network of top-tier data centers in major cities and interconnection hubs around the world."

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Private investors to acquire Mitel

An investor group led by affiliates of Searchlight Capital Partners has agreed to acquire Mitel for approximately $2.0 billion in cash, including Mitel’s net debt.

Mitel shareholders will receive $11.15 per common share in cash, representing a premium of approximately 24% to the 90-calendar-day volume-weighted average price of Mitel common shares through April 23, 2018. 

Upon completion of the transaction, Mitel will become a privately held company.

Terry Matthews, Mitel Co-founder and Chairman, said, “Mitel has succeeded for 45 years because of persistent innovation and relentless focus on delivering shareholder value. Our Board determined that this transaction, upon closing, will deliver immediate, significant and certain cash value to our shareholders. It also affirms the tremendous value and market leadership of Mitel. We believe this transaction will provide Mitel with additional flexibility as a private company to pursue the company’s move-to-the-cloud strategy.”

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Zayo to provide dark fiber ring in the Montreal for cloud company

Zayo will build a high-capacity dark fiber ring in the Montreal metro area to a global cloud provider. The project involves the extension of Zayo's existing dense network in Montreal and building a 60-kilometer ring for the anchor tenant along the South Shore, the city’s growing technology and data center hub. The name of the anchor tenant was not disclosed.

“This project enables us to further expand our Canadian footprint and deliver the high-performance communications infrastructure that this long-standing customer merits,” said Jack Waters, CTO and president of Fiber Solutions at Zayo. “We expect to capture the benefits of scale leveraging our dense Montreal footprint and these new success-based routes.”

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Huawei launches urban 5G “Wireless to the Home” CPE trial with TELUS

Huawei launched an end-to-end user trial for “Wireless to the Home” (WTTx) 5G service using a specially-designed 5G CPE (Customer Premise Equipment) unit in downtown Vancouver..

The trial is being conducted as a “5G Living Lab” in collaboration with TELUS. Initially, the 5G fixed service is being delivered to the home of TELUS employees.

In addition to the unique 5G in-home equipment, the network utilizes the 5G gNodeB and related elements built as part of the TELUS/Huawei 5G Living Lab. The trial system operates on the 28GHz mmwave band with 800 MHz of bandwidth and includes many 3GPP key technologies, such as Massive MIMO, F-OFDM, and Polar Code.

"mmWave technology will be an important tool in ensuring widespread deployment of 5G technology in Canada. Huawei’s 5G solutions and terminals will enable 5G coverage over a neighbourhood or small community cost effectively, while providing more convenient and high-speed home broadband Internet access services." said Dr. Wen Tong, Huawei Fellow, and CTO Huawei Wireless, "This friendly user trial will drive the global 3GPP unified 5G standard and build a solid foundation for the 5G early commercialization."

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Bell Canada acquires a home security company

BCE (Bell) has acquired AlarmForce Industries, a Canadian home security and monitoring company, for approximately $182 million paid in a combination of cash and BCE common shares to shareholders of AlarmForce.

AlarmForce currently serves more than 100,000 subscribers across the country with intrusion, smoke, flood and carbon monoxide detection services; automation services including lighting, climate and lock control systems; and in-home and mobile medical alert systems.

Bell provides security and monitoring services from Bell Aliant NextGen Home Security in Atlantic Canada and from AAA Security, a Bell MTS company, in Manitoba.

Bell also announced an agreement to sell AlarmForce's approximately 39,000 customer accounts in British Columbia, Alberta and Saskatchewan to TELUS Corporation for approximately $66.5 million, an amount per subscriber equivalent to that paid by Bell.

"Bell welcomes AlarmForce as we build on our position as Canada's most trusted name in residential communications with an accelerated focus on Connected Home technology and services," said Rizwan Jamal, President of Bell Residential and Small Business. "Building on our leadership and scale in broadband networks and residential services distribution, installation and customer services, Bell looks forward to delivering new and innovative smart home solutions to residential customers throughout Ontario, Québec, the Atlantic region and Manitoba."

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TELoIP names Roger Davis as CEO

TELoIP, which offers SD-WAN solutions through a network of channel partners, named Roger Davis as its new CEO.

Davis previously was a senior executive with AT&T, serving as Vice President and Controller of the Corporation; Vice President & CFO of the Networks Services Group, the company's largest operating division; and Vice President & CFO of the International Group.

TELoIP, which is known for its Virtual Intelligent Network Overlay (VINO) technology and portfolio of managed service provider partners, was founded in 2002 and is based in Mississauga, Ontario, Canada.

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TELUS picks Ericsson's MediaFirst TV Platform

TELUS has selected Ericsson's MediaFirst TV Platform to power its next-generation TV service. The carrier recently launched its new Optik TV app to almost one million customers in British Columbia, Alberta and Quebec. Financial terms were not disclosed.

The Ericsson MediaFirst TV Platform leverages a cloud architecture for the creation, management, and delivery of next-generation Pay TV. It includes advanced analytics tools which enable operators to target relevant content and promotions to viewers, increasing revenue opportunities and helping to reduce churn.

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EXFO to acquire Astellia for mobile subscriber awareness

EXFO has launched an all-cash voluntary tender offer to acquire all of the outstanding shares of Astellia, a provider of network and subscriber intelligence solutions for mobile operators. EXFO already holds 33.1% of Astellia's equity.

The offer is proposed at a price of EUR 10 per Astellia share, valuing the entirety of Astellia's equity (on a fully diluted basis) at approximately €25.9 million.

Astellia's real-time monitoring and troubleshooting solution optimizes networks end-to-end, from radio to core.  The company is based in France with significant operations in Spain and a strong presence in Canada, Lebanon, Morocco and South Africa.

"We aim to combine the two companies and create a global leader in the service assurance and analytics industry", said Germain Lamonde, EXFO's founder and Executive Chairman of the Board. "Combining our complementary base of customers, technologies and competencies, as well as our similar corporate cultures, will enable the development of game-changing solutions and services within a large market in rapid transition—all this in the best interests of our customers, employees and shareholders."

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Bell Canada deploys open source ONAP

Bell, Canada’s largest communications company, is deploying the open source version of the Open Network Automation Platform (ONAP) in its production network -- the first carrier to do so. The installation is part of the Bell's Network 3.0 transformation initiative.

The open source ONAP platform initially is being used by Bell to automate its data center tenant network provisioning. There are plans to use ONAP as a common platform across Bell’s networks on its journey towards a multi-partner DevOps model.

“Bell has been engaged in the ONAP journey from day one and committed to get it to production to demonstrate its value,” said Tamer Shenouda, Director of Network Transformation for Bell. “This demonstration will encourage other partners to take a similar incremental approach in delivery and operations of the platform, and we look forward to other telecoms launching ONAP to production.”

“We’re very proud to be the first member of the ONAP Project to demonstrate the viability of the platform live on our network,” said Petri Lyytikainen, Bell’s Vice President, Network Strategy, Services and Management. “The evolution of our advanced software-defined networks will enable us to respond even faster to the unique needs of our customers.”

Bell is a founding Platinum Member of ONAP. Platinum members include: Amdocs, AT&T, China Mobile, China Telecom, Cisco, Cloudify, Ericsson, Huawei, IBM, Intel, Jio, Nokia, Orange, Tech Mahindra, Türk Telekom, Vmware, Vodafone, and ZTE.

What is ONAP?

The Open Network Automation Platform is a project hosted by The Linux Foundation that aims to automate the entire network.

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Trend Micro acquires Immunio and for hybrid cloud security

Trend Micro announced the acquisition of Montréal, Canada-based Immunio, a pioneer in real-time web application security (RASP), providing automatic detection and protection against application security vulnerabilities. Financial terms were not disclosed.

Immunio's mission is to make truly effective real-time web protection technology easily available and widely deployed, and by doing so, stop the biggest source of breached data records.

“We are excited to acquire Immunio’s application protection technology, their team of application security experts and their customers,” said Bill McGee, SVP and GM of Hybrid Cloud Security at Trend Micro. “Technology changes, like cloud computing and container platforms, are enabling faster application development. Immunio’s run-time application security allows our customers to increase protection against software vulnerabilities within the applications they are building.”

Trend Micro is also enhancing its container-specific security capabilities, by supporting container image scanning, which allows security issues to be identified and resolved prior to production release. Customers will be able to scan images in the container registry so that development teams can fix issues prior to deployment and apply run-time protection capabilities based on findings from the imaging.

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Private equity firm acquires AVST, a developer of Unified Communications software

StoneCalibre, a privately funded investment firm based in Los Angeles, has acquired Applied Voice & Speech Technologies (AVST), a developer of software-based Unified Communications (UC) solutions for businesses.

AVST has now been merged with XMedius Solutions Inc. The new company, which will have its headquarters in Montreal, will focus on communication tools that leverage voice and data through IP networks using different types of enterprise-grade solutions, either on-premises or in the cloud. AVST designs, delivers and supports software-based UC voice solutions. XMedius provides secure file exchange software solutions. Together, AVST and XMedius have over 500 partners and nearly 4,500 active customers worldwide.

"We are extremely pleased to announce this compelling transaction, as it brings together two highly complementary companies as part of the StoneCalibre family", said Brian Wall, Founder and Chief Executive Officer of StoneCalibre. "Both have long track records of innovation and commitment to helping their customers build cutting-edge solutions for today's business environments. And, while AVST focuses on improving the productivity of its customers' communications, XMedius enables those communications to be secure."

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DragonWave acquired by Transform-X

DragonWave, which a global supplier of packet microwave radio systems for mobile and access networks and which is bases in Ottawa, Canada, has been acquired by Transform-X, a private equity firm based in Tucson, Arizona.  Financial terms were not disclosed.

DragonWave’s carrier-grade point-to-point packet microwave systems transmit broadband voice, video and data, enabling service providers, government agencies, enterprises and other organizations to meet their increasing bandwidth requirement. The principal application of DragonWave’s portfolio is wireless network backhaul, including for small cell networks. The new company will operate under the name of DragonWave-X.

In addition, DragonWave announced the appointment of Hans B. Amell as the company’s new Chief Executive Officer. Amell’s background includes leading major transformations in Global Industry leading companies such as Unisys, Dun and Bradstreet, AlliedSignal/Honeywell and Ericsson. He started his career as a management consultant at McKinsey.

"The DragonWave-X acquisition is a crucial part of Transform-X's strategic goal to acquire and integrate best-in-class 5G+ communications technologies, manufacturers and service companies that will compete and excel in the market for 5G+, small cell densification and RAN solutions to modern data demands." said Dan Hodges, Transform-X CEO.

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Ciena teams with University of Waterloo

Ciena announced that it is working with engineering researchers at the University of Waterloo to develop solutions to help network operators and Internet providers address to the ever increasing demand for faster data transmission over the Internet.

The partners stated that the research relationship has received funding support from the Natural Sciences and Engineering Research Council of Canada (NSERC).

A key area of the University of Waterloo's partnership with Ciena focuses on realising the maximum possible capacity from the optical cables that run under the oceans and which handle around 95% of intercontinental communications, including an estimated $10 trillion per day in financial transactions. Ciena noted that the reliable, high-speed transmission of huge amounts of data over undersea cables is increasingly important in fields including healthcare and academic research.

For the research program, Amir Khandani, a professor of electrical and computer engineering at Waterloo, is leading a team of post-doctoral fellows and graduate students that are developing algorithms designed to efficiently and rapidly correct errors, including lost or dropped bits of data, that occur during extremely high-speed, long-distance optical transmission.

When incorporated on the electronic chips that are built into equipment for receiving and transmitting data, the algorithms developed by the Waterloo team can free up cable capacity, while also enabling the faster correction of errors in line with other technological advances in optical communications.

Under the three-year partnership, announced at an event at the University of Waterloo, Mr. Khandani holds the position of Ciena/NSERC Industrial Research Chair on Network Information Theory of Optical Channels. Ciena noted that the relationship between Waterloo Engineering and Ciena has already produced seven U.S. patents, with additional patents pending.

http://www.ciena.com/about/newsroom/press-releases/

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Huawei and TELUS Collaborate on 5G

Huawei and telco TELUS of Canada announced they have successfully completed a 5G wireless connection using the global 3GPP technology standards platform as the industry moves towards the deployment of 5G.

TELUS noted that the pilot not only demonstrates the faster wireless speeds and lower latency that will be available to customers using 5G technology, but also showcases the potential for 5G technology to deliver wireless-to-the-premise (WTTx) connectivity with speeds and reliability required for smart homes and businesses.

The pilot network created with Huawei was designed to reflect a real-world point-to-multi-point connection over commercial central office equipment and transport networks. The network featured equipment based on 3GPP 5G foundational technologies over 28 GHz spectrum, although 5G standards are not expected to be finalised until early in 2018.

The pilot forms part of TELUS and Huawei’s joint 5G Living Lab facility in Vancouver, where the companies have been trialling next-generation technologies since 2015 in a live real-world environment. TELUS noted that last year the Living Lab demonstrated speeds of 30 Gbit/s in a controlled environment and implemented a heterogeneous network (HetNet) in downtown Vancouver.

While 5G wireless technology is expected to become commercially available in 2020, TELUS stated that customers living in the Vancouver area will have early access to the latest wireless technologies leveraging advances achieved at the 5G Living Lab.

http://www.huawei.com/en/news

• Previously, in October last year TELUS and Huawei announced they had achieved wireless speeds of up to 29.3 Gbit/s at the 5G Living Lab in Vancouver. The companies also equipped a 4G LTE wireless site in Vancouver with the latest LTE-Advanced Pro technologies, enabling speeds of up to 1 Gbit/s, and planned to upgrade a further 5 sites.

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Canadian data centre company eStruxture raises C$80m

Montreal-based eStruxture Data Centers, a new network and cloud-neutral data centre operator, has announced the development of its Canada-wide platform, designed to meet the growing demand for large, energy efficient data centres that is being driven by the adoption of cloud services and demand for data storage within Canada.

The company stated that it has raised an initial C$80 million in capital through a funding round led by Canderel and Caisse de dépôt et placement du Québec. The funding will be used to expand its footprint across Canada, both through the acquisition of existing data centre operators and new data centre development.

As part of this growth strategy, eStruxture also announced the completion of its first acquisition with the purchase of the assets of Netelligent Hosting Services, a major data centre operator in Montréal.

Netelligent provided colocation, cloud, managed services and bandwidth to more than 850 customers and had developed a cloud-neutral ecosystem that allowed customers to access diverse private and public cloud providers. The acquired downtown data centre facility enables eStruxture to offer customers high-density power of up to 30 kW per cabinet.

eStruxture was established to provide network and cloud-neutral data centre solutions designed to offer the capacity, performance and flexibility required for demanding enterprise applications. The company offers colocation, private cloud, managed services, bandwidth and security and support services to customers of all sizes.

eStruxture is led by president and CEO Todd Coleman, who co-founded Cologix, where he also served as COO. Mr. Todd has held a number of senior positions at companies including Level 3 Communications, where he held the roles of SVP of Data Centers, SVP of Media Operations and president of Level 3 Communications Europe.

http://news.centurylink.com/

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Shaw purchases 700/2500 MHz spectrum, divests ViaWest

Canada's Shaw Communications announced it has entered into a series of transactions designed to enhance long-term growth opportunities, specifically a share purchase agreement with GI Partners portfolio company Peak 10 to sell its subsidiary ViaWest for approximately C$2.3 billion ($1.675 billion) and an agreement with Quebecor Media to acquire 700 MHz and 2,500 MHz wireless spectrum licences for $430 million.

ViaWest transaction

ViaWest is a provider of hybrid IT solutions including colocation, cloud computing and security and compliance for North American enterprises. Under the agreement, ViaWest is being acquired by Peak 10 for approximately C$2.3 billion. Shaw noted that it originally invested $1.2 billion (approximately C$1.3 billion at the exchange rate at the time) in the operation.

Shaw expects to realise net cash proceeds from the ViaWest transaction of approximately C$900 million after the repayment of ViaWest level indebtedness of approximately $580 million, repayment of the $380 million Shaw credit facility borrowings associated with the original investment and subsequent INetU acquisition, and estimated transaction expenses and taxes.

The ViaWest transaction is subject to customary conditions, including U.S. regulatory approval, and is expected to close in fiscal year 2017, which ends in August. The transaction is not subject to a financing condition.

Spectrum transaction

Shaw also announced that it has entered into a definitive agreement with Quebecor Media for the acquisition of 700 MHz and 2,500 MHz wireless spectrum licences for a sum of $430 million. The spectrum licences being acquired comprise the 10 MHz licences of 700 MHz spectrum in each of British Columbia, Alberta, and Southern Ontario, as well as the 20 MHz licences of 2,500 MHz spectrum in Vancouver, Edmonton, Calgary and Toronto.

In addition to the spectrum acquisition cost, capex associated with the deployment of the acquired spectrum are estimated at approximately C$350 million. The company expects the bulk of the capital for the network build to be incurred during fiscal 2018. The spectrum transaction will be funded using a combination of cash proceeds from the ViaWest transaction, cash on hand and/or Shaw's existing credit facility.

The company stated that the spectrum transaction is subject to customary closing conditions and regulatory approvals from the Ministry of Innovation, Science and Economic Development Canada (ISED) and under the Competition Act. The transaction has received all required internal approvals at Shaw and Quebecor and is not subject to approval by the shareholders of Shaw or further approval by shareholders of Quebecor. The transaction is expected to close in the summer 2017.

Regarding the transactions, Brad Shaw, CEO of Shaw, said, "With the acquisition of WIND, now Freedom Mobile, in 2016, Shaw has more synergistic investment opportunities as a leading enhanced connectivity provider in its Canadian footprint… I believe this incremental investment in the wireless business, particularly the addition of 700 MHz spectrum, will materially improve the long-term wireless customer experience and further enable Shaw to offer converged network solutions…".

https://newsroom.shaw.ca/

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TELUS to invest C$4.2nn to upgrade network in Alberta

Canadian operator TELUS announced that it plans to invest C$4.2 billion in new communications infrastructure in Alberta over the period to 2020, including over C$900 million in 2017.

The network expansion program will include extending TELUS' gigabit-enabled PureFibre network directly to thousands more homes and businesses in rural and urban communities across the province, enhancing 4G LTE wireless service and continuing work to develop and test next-generation 5G wireless service, as well as improving support for key sectors such as healthcare and education.

TELUS noted that it recently launched a program to support vulnerable populations in Alberta with the introduction of broadband Internet service for low-income single-parent families receiving income or disability assistance from the provincial government for less than C$10 per month.

The TELUS investment in Alberta forms part of the company's national program to upgrade its network infrastructure. When announcing its financial results for the first quarter, TELUS stated it had invested C$724 billion in its networks in the first quarter and updated its consolidated financial targets for 2017, including revenue and EBITDA following closing of the agreement with Bell under which approximately 100,000 Bell MTS postpaid wireless customers and 15 dealer locations were acquired by TELUS.

In particular, TELUS raised its consolidated capex target to reflect the ongoing fibre network rollout and to support increased wireless network investments in Manitoba, as well as for its small-cell technology strategy designed to improve coverage and prepare for the introduction of 5G technology. TELUS now plans capex of approximately C$3.0 billion, up from the previous C$2.9 billion in 2017.

TELUS also announced it had reached a milestone ahead of Canada's 150th birthday, specifically that by the end of the year the company would have invested over C$150 billion in capital and operations to build and support network infrastructure across the country since 2000.

TELUS generates around C$12.9 billion in annual revenue and has 12.7 million subscriber connections, including 8.6 million wireless subscribers, 1.7 million high-speed Internet subscribers, 1.4 million residential network access lines and 1.1 million TELUS TV customers.

http://about.telus.com/community/english/news_centre/news_releases

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Private Equity Firm to Acquire Sandvine

Vector Capital, a leading global private equity firm, agreed to acquire Sandvine (TSX: SVC) for CAD $3.80 in cash per share, representing an equity value of approximately CAD $483 million.

"The Sandvine Team has built the clear leader in network policy control and I am extremely proud of what we have accomplished to date," said Dave Caputo, Sandvine's President and Chief Executive Officer. "There are a number of long-term growth opportunities that Vector, as a specialist technology investor, is enthusiastic about and can help us pursue more aggressively. We see this as an excellent opportunity to better serve our 300-plus customers, to enhance our strategic position over the longer term, and to do it The Sandvine Way."

"We are excited to partner with Dave and this deeply talented management team to take Sandvine to the next level," said Rob Amen, a Managing Director at Vector Capital. "We are confident that, together with the founding team, Vector can enhance Sandvine's proud track record of growth, innovation and independent operations.  Vector was specifically formed to collaborate with market leading technology companies to accelerate their growth and redefine their markets in new and disruptive ways. We believe that Sandvine's emerging product opportunities and transition to fully virtualized solutions represent an opportunity for such a disruption.  Our partnership with this deeply talented Team couldn't be stronger."

http://www.sandvine.com

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Canada's CENGN awarded C$63m for 5G development

CENGN, the Canadian Centre of Excellence in Next Generation Networks (NGN), a consortium of industry, academic and research partners supporting the commercialisation of network products, applications and services, announced that it was identified in the recent Ontario 2017 budget as a key player in the Ontario government's 5G technology initiative.

CENGN stated that it has a record of helping to accelerate the commercialisation of technology developed by Canadian SMEs federal with the support of funding provided by the Networks of Centres of Excellence (NCE) and the support of its members.

The newly announced financial support to be provided by the government of Ontario will help enable greater collaboration between industry, academic, research and government bodies in key areas of NGN, software-defined networking (SDN) and network function virtualisation (NFV) across the province.

The Ontario budget specifically identifies 5G as constituting the backbone of future networking technologies, and the government plans to invest C$63 million over five years in CENGN's Cloud Expansion Project. The CENGN Cloud will connect 18 innovation centres across Ontario that support key industries, as well as providing SMEs with new advanced networking capabilities.

The CENGN cloud project is designed to support the development and availability of next-generation networks and the digital economy industries that utilise these networks. The initiative is expected to help companies address key opportunities in fields such as autonomous vehicles (AV), aerospace, public safety, cybersecurity, ICT, mining, eHealth, smart agriculture and broadband Internet architectures, particularly for rural and remote users.

Canada's CENGN is an NCE funded Centre of Excellence for Commercialisation and Research (CECR) that aims to accelerate the commercialisation of next generation communications solutions. The consortium's data centre runs a production OpenStack environment with multiple connections, including a 100 Gbit/s-enabled dark fibre link. CENGN offers services including proof of concept validation, interoperability and certification testing and technical training.

CENGN industry members include: Cisco, EXFO, GENBAND, Fujitsu, Invest Ottawa, Juniper, Nokia, Rogers, TELUS, Viavi, Wind River and Zayo Canada.

https://www.cengn.ca/cloud-expansion-2017/

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Enablence to raise C$6m for PLCs

Enablence Technologies of Ottawa and Fremont, California, a supplier of optical components and subsystems for access, metro and long-haul markets, announced its intention to complete additional financing for approximately C$6 million.

Enablence also announced the termination, by mutual agreement, of the non-binding letter of intent (LoI) with Esrey Energy as announced on December 8, 2016, under which the two companies proposed to implement a business combination. Esrey is a Canadian exploration and development company focused on developing oil and gas reserves in Papua New Guinea and Bulgaria.

However, Enablence stated that it expects to meet its stated goal as announced at the same time for the execution of a LoI to raise funds of C$10 million to support growth. The company plans to achieve this via a combination of the exercise of outstanding warrants, the private placements completed in December 2016 and January 2017, which totalled approximately C$4 million, cash advances of C$2 million and with the closing of financings.

As previously announced, Enablence intends to use the funds as growth capital for current and future products and for general corporate purposes. Part of the funding will be used for a capex program to expand the production of its planar lightwave circuit (PLC) chips to meet demand resulting from both existing purchase orders and anticipated demand for its metro market-focused 100 Gbit/s TxRx products.

In addition, a portion of the funds will be allocated to complete the development of a new 100 Gbit/s TxRx product targeting the data centre market and for R&D activities relating to next generation 200/400 Gbit/s products.

To raise the C$10 million funding, Enablence intends to complete a non-brokered private placement financing of common shares at 7c per share for gross proceeds of approximately C$4 million and to conduct a non-brokered private placement of C$1,000 principal amount of unsecured convertible debentures for gross proceeds of up to C$2 million.

As part of the financing, certain investors propose to enter into debt settlement agreements with Enablence to settle outstanding non-interest bearing cash advances totalling C$2 million through issuing 7.14 million shares for an aggregate C$500,000 and the issue of C$1.5 million principal amount of debentures, subject to approval by the TSX venture exchange.

http://www.enablence.com/technologies/enablence-technologies-announces-additional-financings/

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