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  • Tii Network Technologies Inc. (TIII) Acquires Frederick Fiber Optics 0 comments
    Mar 14, 2011 2:45 PM | about stocks: TIII
    Tii Network Technologies Inc. is a leader in designing, manufacturing and marketing network products for the communications industry. Its products can be found throughout many telecommunication systems and are critical to the delivery of voice and broadband services.

    The company today announced it has acquired 100 percent of the stock of Frederick Fiber Optics for an undisclosed purchase price. The purchase price consists of an initial cash payment made from cash on hand and incentive payments based on the achievement of certain performance objectives over the next two years.

    Frederick Fiber Optics manufactures a wide variety of high performance fiber optic cable assemblies, wall and rack mounted fiber distribution panels and miscellaneous fiber accessories and services. It is a profitable, fast-growing company with sales in excess of $2 million. Tii Network Technologies stated that this acquisition is expected to be accretive to its earnings beginning in the third quarter.

    The combination of the two companies should result in a dynamic competitor in the marketplace. The president and CEO of Tii Network Technologies, Kenneth A. Paladino, spoke about the deal. He said, “This acquisition accelerates our penetration into the broader fiber optic market…Our fiber product sales have been growing quickly, and we believe this acquisition is an ideal platform…”

    Mr. Paladino added that the acquisition of Frederick Fiber Optics will result in increased sales from a much broader fiber optics product line which in turn will make a significant contribution to the future growth of Tii Network Technologies. For more information on the company, please visit its new website at tiinettech.com

    Please see disclaimer on QualityStocks website: disclaimer.qualitystocks.net
     
    Stocks: TIII
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