Showing posts with label MRV. Show all posts
Showing posts with label MRV. Show all posts

Wednesday, August 30, 2017

ADVA updates guidance citing weaker orders

ADVA Optical Networking updated its Q3 2017 revenue and profitability guidance.

Citing weaker than expected orders, ADVA said it now expects revenues in Q3 2017 (including acquisition of MRV Communications) are forecasted to be between EUR 110 million and EUR 125 million. Revenues in Q3 2017, excluding acquisition of MRV, are forecasted to be between EUR 104 million and EUR 114 million, down from previous guidance of between EUR 120 million and EUR 130 million.

ADVA Optical Networking also said IFRS pro forma operating income in Q3 2017 (including acquisition of MRV) is forecasted to be between -4% and 2% of revenues. IFRS pro forma operating income in Q3 2017, excluding acquisition of MRV, is forecasted to range between -3% and 2% of revenues. The previous guidance was between 2% and 5% of revenues. IFRS pro forma operating income excludes stock-based compensation, non-recurring restructuring costs, amortization and impairment of goodwill, and acquisition-related intangible assets.

ADVA Optical Networking also plans to reduce its workforce in orde to maximize the value of the MRV acquisition and enhance profitability throughout the combined company. The company expects non-recurring restructuring costs in 2017 to amount to EUR 9 million. Management expects that the reductions will lead to cost savings of EUR 15 million per year on a run rate basis, with the initial effect of these savings being realized in late Q4.

Monday, August 14, 2017

ADVA Completes MRV Acquisition

ADVA Optical Networking completed its previously announced acquisition of MRV Communications. The deal was valued at $69 million when it was first announced in July.

  • MRV Communications was founded in 1988 by Prof. Shlomo Margalit and Dr. Zeev Rav-Noy. The company is headquartered in Chatsworth, California and has R&D centers in Chelmsford, MA, and Yokneam, Israel.
  • In 2016, ADVA acquired Overture Networks to expand its Carrier Ethernet portfolio and create a NFV product suite, named Ensemble. Earlier this year, Ensemble was selected by Verizon for its virtual uCPE solution.

Thursday, August 3, 2017

MRV reports Q2 revenue of $19.72m, down 6.8% Q/Q

MRV Communications reported financial results for the second quarter ended June 30, 2017 as follows:

1.         Revenue for the second quarter of 2017 of $19.72 million, down 6.8% compared with $21.17 million in the preceding first quarter and down 8.6% versus $21.58 million in the prior year second quarter.

2.         Gross profit for the second quarter of $10.16 million, down 5.0% compared with $10.70 million in the preceding first quarter and up 1.2% versus $10.04 million in the prior year second quarter.

3.         R&D expenditure for the second quarter of $4.61 million, down 2.5% compared with $4.73 million in the preceding first quarter and down 10.0% versus $5.12 million in the prior year second quarter.

4.         SG&A expenditure for the second quarter of $7.45 million, up 10.0% compared with $6,77 million in the preceding first quarter and up 6.3% versus $7.01 million in the prior year second quarter.

5.         Total operating expenditure for the second quarter of $12.06 million, up 4.9% compared with $11.50 million in the preceding first quarter and down 0.6% versus $12.13 million in the prior year second quarter.

6.         On a GAAP basis, net loss for the second quarter of $2.10 million, compared with a net loss of $1.04 million in the preceding first quarter and a net loss of $2.02 million in the prior year second quarter.

On a non-GAAP basis, net loss for the second quarter of $0.44 million, compared with a net loss of $0.52 million in the preceding first quarter and a net loss of $1.31 million in the prior year second quarter.

7.         Cash and cash equivalents as of June 30, 2017 of $24.33 million, compared with $21.41 million as at March 31, 2017 and compared with $25.12 million as at December 31, 2016.

Additional results and notes

MRV noted that on July 2, 2017 it entered into a merger agreement with ADVA NA Holdings and its subsidiary Golden Acquisition (Merger Sub). Under the merger agreement Merger Sub was to commence a cash tender offer to purchase all issued and outstanding shares of MRV for $10.00 per share. On completion of the offer Merger Sub will merge with and into the company, with MRV continuing as the surviving corporation and a wholly owned subsidiary of ADVA.

On July 17th, the offer commenced as per the agreement and is currently scheduled to expire at midnight, August 11, 2017.

Wednesday, July 5, 2017

MRV to be acquired by ADVA for $69 million

MRV Communications based in Chatswoth, California, a provider of advanced network solutions for data centres, service providers and enterprises, announced an agreement under which ADVA Optical Networking will acquire MRV via a tender offer of $10.00 per share for all its outstanding common stock.

The tender offer represents an aggregate purchase price of approximately $69 million. The transaction has been approved and unanimously recommended by both the board of directors of ADVA and that of MRV Communications.

ADVA expects that the proposed acquisition will further strengthen its portfolio of optical, Ethernet and software solutions and expand its customer base, particularly in non–European regions. In 2016, MRV recorded revenue of $80.3 million; for the most recent quarter ended March 31, 2017, MRV recorded revenue of $21.2 million, up 12.1% year on year, and net loss of $1.0 million, versus a net loss of $3.9 million a year earlier. MRV had cash and cash equivalents of $21.7 million and no debt.

For its first quarter ended on March 31, 2017, ADVA reported revenue of Euro 141.83 million, up 16.3% versus the first quarter of 2016, with net income of Euro 6.18 million, compared with a net loss of Euro 5,16 million in the 2016 first quarter.

ADVA noted that the acquisition of MRV, if completed, will mark its second significant acquisition in two years. In 2016, it acquired Overture Networks to expand its Carrier Ethernet portfolio and create a NFV product suite, named Ensemble. Earlier this year, Ensemble was selected by Verizon for its virtual uCPE solution.

The acquisition of MRV remains subject to customary closing conditions, including the tender of at least a majority of MRV's outstanding shares of common stock, and is expected to be completed in August or September of this year.

Regarding the transaction, Uli Dopfer, CFO of ADVA said, "The acquisition of MRV will… not only strengthens ADVA's cloud access portfolio, but also open the door to new customers… this acquisition will present many new business opportunities, especially for communication service providers seeking to explore the possibilities of virtualised network services".

  • MRV Communications was founded in 1988 by Prof. Shlomo Margalit and Dr. Zeev Rav-Noy. The company is headquartered in Chatsworth, California and has R&D centers in Chelmsford, MA, and Yokneam, Israel.

Monday, June 12, 2017

MRV introduces 200 Gbit/s optical transport solutions

MRV Communications, a supplier of network solutions for data centre operators, service providers and enterprises, has introduced new 200 Gbit/s coherent digital muxponders for its OptiDriver WDM optical transport portfolio that are designed for data centre interconnect (DCI) and telecom applications.

Equipped with the new muxponders, OptiDriver can be deployed for a range of applications, from smaller access locations to large metro and regional WDM networks based on common modules and chassis. This approach helps to simplify network design, reduce stranded chassis space and sparing requirements and enable interoperability for data centre operators, service providers and enterprises.

The new products are based on digital coherent technology and enables a complete solution, ranging from 100 Gbit/s transponder module to the 200 Gbit/s muxponder modules, offered in a compact form factor. The 200 Gbit/s muxponders provide high-service granularity, thereby a failure of a module affects only the service on one port, while the high port-density 600 Gbit/s triple muxponder integrates three independent 200 Gbit/s muxponders in a 1 RU configuration.

MRV noted that the new solutions provide chassis-based modularity across the product line, together with advanced management options including Ethernet and OTN/FEC PM, OTN OAM&P, as well as remote management capabilities based on GCC-channels for high density optical transport applications.

Based on coherent digital CFP2-DCO optics, MRV's OptiDriver 100 Gbit/s transponder and 200 Gbit/s muxponders are designed to enable a cost-effective pay-as-you-grow strategy.

The new transponder and muxponders offer energy efficiency, delivering between 0.16 and 0.25 watts/Gbit/s, combined with high density when installed in OptiDriver stackable chassis from the OD-1, compact one-slot desktop unit to the OD-4-DCI, 1 RU modular pizza box, to the OD-48-HD 48 slot metro and regional WDM platform. The new modules provide up to 1.2 Tbit/s capacity in the 1 RU OD-4-DCI chassis and up to 18 Tbit/s in the OD-48-HD, 10 RU chassis.

MRV stated that the new modules can be used in combination with other modules in the OptiDriver portfolio including optical add/drop multiplexers (OADM), multi rate and multi-protocol transponders, dispersion compensation, ROADMs, optical multiplexers and amplifiers to address a range of DWDM network requirements.

The new modules, which can be  managed via the Pro-Vision life cycle service orchestration software, also offer support for Layer 1 wire-speed, hardware-ready encryption and open line system (OLS) architectures.

Thursday, May 4, 2017

MRV expands OptiDriver portfolio with compact OD-4-DCI transport platform

MRV Communications has introduced the OD-4-DCI, its new optical transport platform designed for the data centre interconnect (DCI) market, expanding its OptiDriver family of WDM metro transport solutions.

MRV's new OD-4-DCI solution is designed to enable modular, ultra-high density DCI via a compact 1 RU platform with stackable management functionality providing high bandwidth point-to-point connections between data centres.

The OptiDriver line cards supported in the OD-4-DCI chassis exclusively utilise pluggable optics, designed to enable cost-effective, pay-as-you-grow bandwidth capacity expansion. The use of pluggable optics also means that data centre operators can invest to meet their requirements and upgrade with the latest optical technology. The OD-4-DCI modular design offers flexibility and supports the same optical line cards as other OptiDriver chassis products from the OD-6 to the OD-48 models.

MRV noted that traditionally, data centre operators had the option of either a smaller chassis with fixed optical ports or a large, modular chassis with pluggable optical modules. The OptiDriver portfolio removes this restriction for data centre operators and service providers and allows the use of the same pluggable modules across the OptiDriver range.

In addition, all OptiDriver components can be managed utilising MRV's Pro-Vision life cycle service orchestration (LSO) service management and orchestration software platform.

Regarding the new solution, Adam Scheer, COO at MRV, commented, "By designing the OD-4 DCI as an open and flexible system that can leverage widely available and competitively priced pluggable optics… (it) offers a cost effective and scalable approach… compared with other systems based on a closed or fixed design".

Wednesday, April 19, 2017

BTC Broadband Deploys MRV for Oklahoma WDM network

MRV Communications, a provider of packet and optical solutions for service providers, data centres and enterprises, announced that fibre-based regional broadband service provider BTC Broadband based in Bixby, Oklahoma has selected it to deploy a WDM network within the state of Oklahoma.

With the deployment of MRV's custom WDM solution into its network, BTC Broadband will gain capabilities including scalable bandwidth capacity to meet its internal requirements, as well as growing demand from business and residential customers.

MRV noted that BTC Broadband has invested in rolling out fibre infrastructure in key residential and business areas of Oklahoma, including the city of Tulsa. The resulting regional fibre backbone network enables the service provider to launch service points in all business districts along its network route.

More specifically, BTC Broadband will be able to expand its fibre-based service offerings and enhance the quality of services for end-users leveraging MRV's OptiDriver optical transport solution, which will enable both increased capacity and greater coverage for the fibre network.

In addition, to facilitate deployment of the solution MRV also supplied its Pro-Vision life cycle service orchestration (LSO) software, which is designed to simplify network operations via a suite of automated tools covering functions from planning and provisioning to visualising and optimising packet and optical networks and services.

Earlier in April, MRV announced that Syndeo Network of Illinois, a fibre broadband communications service provider had selected MRV to upgrade its WDM network to address the growing traffic demands of its customers.

Syndeo provides telecom services across northern Illinois, and also owns a fibre installation subsidiary, DeKalb Fiber Optics, which serves education, enterprise and government institutions. For the network upgrade Syndeo selected MRVs 100 Gbit/s-capable OptiDriver metro optical transport solution and Pro-Vision service management and orchestration platform.

Thursday, March 9, 2017

MRV enhances Pro-Vision orchestration software with RestConf northbound API

MRV Communications, a provider of advanced packet and optical solutions for service providers, data centre operators and enterprises, has announced an upgrade to its Pro-Vision service management and orchestration software platform via the addition of a RestConf northbound application program interface (API).

The new Pro-Vision interface is based on standards-compliant Yang models, including those defined by the Open Networking Foundation's (ONF) T-API open standard, enabling integration with high-order orchestration platforms, thereby providing full lifecycle service orchestration (LSO) for transport services.

Pro-Vision integrates with MRV's family of optical transport and switching platforms and is designed to enable service providers to create, manage, diagnose, visualise and optimise multi-layer networks, while also reducing their opex costs.

MRV stated that through the addition of the next generation RestConf northbound API, Pro-Vision can help to further simplify the use and service orchestration of SDN-enabled networks, as well as supporting troubleshooting functions and new optical and packet products and features.

MRV's Pro-Vision is designed to scale to address a range of customer requirements, from regional operators to large global service providers. The solution offers an intuitive GUI to help automate provisioning and management for thousands of network elements, and delivers enhanced control, awareness and troubleshooting capabilities to support service provisioning, assurance, monitoring, reporting, maintenance and inventory management functions.

MRV launched Pro-Vision 3.2.1 for the provisioning, management, troubleshooting and reporting for packet and optical services in late 2015. The platform is designed to streamline lifecycle orchestration of MEF CE2.0 and optical transport services using GUI-based screens. Combined with MRV's OptiDriver, OptiPacket and OptiSwitch products featuring ROADM and 100 Gbit/s interfaces, the solution can support full control of optical transport and packet services.

Pro-Vision is designed to address LSO from planning to activation and monitoring, including maintenance and troubleshooting. The new release also introduced an optical channel monitoring capability that works together with a dedicated module from MRV's optical transport portfolio to allow automated monitoring for up to eight 40- or 80-channel DWDM trunks per module.

Thursday, May 5, 2016

MRV Posts Q1 Sales of $19 Million

MRV Communications reported quarterly revenue of $18.9 million, compared to $22.2 million, reflecting a lower contribution from legacy infrastructure management products, partially offset by growth of packet and optical products. Gross margin remained at 51.9%, compared to 52.0%, despite lower revenues of legacy products. There was a GAAP net loss from continuing operations of $3.9 million, or $0.56 per share, compared to a GAAP net loss from continuing operations of $1.3 million, or $0.18 per share.

“We entered 2016 as a better capitalized, more efficient and more focused company that is well-positioned for growth at high margins. While our legacy infrastructure management products have experienced a cyclical slowdown that impacted our results over the past few quarters, we are thrilled with the customer and market reaction to our new packet and optical product families,” stated MRV President and CEO Mark Bonney.

Tuesday, December 16, 2014

MRV Appoints New CEO

MRV appointed Mark J. Bonney, 60, as President and Chief Executive Officer, replacing David Stehlin, who resigned as an officer and director of MRV to pursue other interests.

Bonney has been a member of the MRV Board of Directors since April 2013 and served as Executive Vice President and CFO from August 2014 until December 2014. From January 2013 through August 2014, he served as the President and CEO of On Board Advisors, LLC, a strategic and financial advisory firm.

MRV also promoted Stephen Krulik, 42, who has served as Vice President of Finance since May 5, 2014 to Chief Financial Officer. These appointments were unanimously approved by the independent members of the Company’s Board of Directors.

Mr. Bonney commented, “Since taking on the role of CFO four months ago I have become increasingly confident in our people, our technology and our product and service offerings of both our Network Integration and Network Equipment businesses. I am excited to expand my role and work more closely with an excellent management team as we drive the MRV strategy forward.”

Wednesday, November 5, 2014

MRV Sees Gains in Network Integration & Optical Transport

MRV Communications reported Q3 2014 revenue of $43.2 million, up 12% from $38.4 million a year earlier. Total net loss was $1.0 million or $0.14 per diluted share.

“During the third quarter of 2014, we grew total revenue 12% due to the continued strong performance of our Network Integration business, which was partially offset by a modest slowdown in our Network Equipment business,” said David Stehlin, MRV’s chief executive officer. “The soft telecommunications capital spending environment in the Americas and EMEA impacted our revenues during the quarter while, at the same time, we continue to transition from older, legacy products to a new, market-leading, packet and optical product portfolio. These new products have distinct market and technical advantages, already recognized by the market.

“OptiDriver, our new optical transport platform, continues to perform well. In the third quarter, we increased our total customer count to more than 30 by adding 15 customers, 9 of whom are new users of MRV optical transport solutions. Notably, we won our first multi-million dollar contract from a large regional North American communications service provider in the quarter."

Network Equipment revenue was $22.0 million, down 4%, primarily reflecting the current capital spending environment in the telecommunications market.  Network Integration revenue was $21.2 million, up 36% primarily due to growth in project related product sales.

Monday, January 13, 2014

Sabey Data Center Picks MRV Optical Transport to Link Data Centers

Sabey Data Center Properties, one of the oldest and largest privately owned multi-tenant data center owner/developer/operators in the United States, has selected MRV’s OptiDriver™ optical transport platform for its proprietary Intergate.Exchange (IGX) network to support interconnection bandwidth requirements at Intergate.Manhattan—its new mega data center in New York City.
 MRV said its OptiDriver platform will deliver with up to 4 terabits of protected capacity as the foundation for connections between Intergate.Manhattan at 375 Pearl Street and the city’s other large data centers at 60 Hudson Street, 111 Eighth Avenue and 32 Avenue of the Americas.

Thursday, November 7, 2013

MRV's 10RU OptiDriver Transport Platform Packs 80 Wavelengths

MRV introduced its new "OptiDriver" high-density, 10 Gbps optical transport platform featuring built-in testing and rapid turn up capabilities.

MRV said its OptiDriver was designed for intelligent ROADM and 100Gbps transport. The chassis supports modules from other MRV optical transport products and is fully integrated into MRV’s advanced Pro-Vision service delivery and provisioning platform, with built-in processing support for current and emerging intelligent control plane technologies like GMPLS and Software Defined Networking (SDN).

The 10RU chassis can support up to 48 single height cards and 80 wavelengths. The multi-function hardware can serve a variety of applications, including Ethernet, OTN, TDM, Fibre Channel, ESCON/FICON, Infiniband and others.

“Our team has developed OptiDriver™, our next-generation optical transport platform, with a solid understanding of the changing demands of our customers, while drawing on our rich history of solving complex optical and networking challenges. This is especially obvious in the integrated test and management capabilities built into MRV’s optical product line that significantly reduce the time and complexity traditionally associated with turning up and operating a network,” said Dave Stehlin, CEO for MRV Communications. “As these networks become more complex, this new OptiDriver™ platform will enable data centers, wholesale carriers, Internet exchanges and service providers to do more with less. It delivers additional capacity and ease-of-use to reduce management time and maintain a high-performance network.”

See also