Lightera doubles down on data centers and enterprises with OCC investment
The two companies will collaborate on solutions dedicated to data centers and businesses.
Lightera brings optical fiber manufacturing experience.
OCC is a key manufacturer of fiber and copper cabling and connectivity solutions.
Lightera invested in OCC, purchasing shares of OCC common stock.
Lightera and Optical Cable Corporation (OCC) have entered into a strategic collaboration agreement to expand their product offerings and solutions, with a focus on the data center and enterprise sectors.
Both companies bring plenty of experience to the table.
Lightera has extensive experience in manufacturing high-performance optical fibers, while OCC is a major manufacturer of fiber and copper cabling and connectivity solutions.
While the partnership is new, the two companies are hardly strangers. Over several years, OCC and Lightera have partnered in various ways, and this new strategic collaboration agreement builds upon a long and successful relationship between the two companies.
As a result of this strategic collaboration, OCC and Lightera expect to benefit from opportunities to offer expanded fiber optic and copper cabling and connectivity solutions to the enterprise and data center sectors, as well as an increased presence in other sectors. The companies will combine portions of the product portfolios of both OCC and Lightera to deliver integrated cabling and connectivity solution offerings, which OCC will sell.
As part of this collaboration, Lightera has invested in OCC, purchasing shares of OCC common stock from the company, and Lightera holds 7.24% of the company's outstanding shares.
The CEOs of both companies said the pact will enable them to more effectively pursue enterprise and data center opportunities through their respective experience.
"We recognize the importance of this strategic joint effort with OCC and the potential opportunities it brings to expand Lightera's presence in the data center and enterprise Passive Optical LAN sectors," said Foad Shaikhzadeh, Chairman and CEO of Lightera.
Neil Wilkin, Chairman, President and CEO of OCC, agreed and added that “our strategic collaboration with Lightera, and the resulting Lightera-OCC integrated solutions offered, will significantly expand our opportunities in the data center and enterprise sectors, will accelerate OCC sales growth, and will create significant value for OCC and its shareholders."
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Sean Buckley
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