Finisar Corporation (Nasdaq:FNSR), a technology provider of gigabit fiber optic solutions for high-speed data networks, reported it has terminated the proposed acquisition of Marlow Industries, Inc., in accordance with the pertinent provisions of the merger agreement between the two companies.
"We are disappointed that adverse economic conditions, particularly in the telecommunications industry, prevent the acquisition of Marlow Industries from proceeding as planned," said Jerry Rawls, Finisar's President and CEO. Rawls further commented that Finisar may continue to hold discussions with Marlow concerning other ways the companies may enter into a new agreement with revised economic terms.
ABOUT FINISAR
Finisar Corporation (Nasdaq:FNSR) is a technology provider of fiber optic subsystems and network performance test systems which enable high-speed data communications over Gigabit Ethernet local area networks (LANs), Fibre Channel storage area networks (SANs), and wide-area and metropolitan data networking applications (WANs and MANs). For more information, visit www.finisar.com.