ADC has announced an agreement to acquire Fiber Optic Network Solutions (FONS), a leading manufacturer of high-performance passive optical components and fiber optic cable packaging, distribution and connectivity solutions.  The acquisition is designed to further enhance and add scale to ADC's existing line of fiber-to-the-x (FTTX) solutions in a fast-growing market and to support ADC's long-term goal of being the leading global provider global network infrastructure solutions.  A privately held company financed by two rounds of venture investing and owned by Oak Investment Partners, Morgenthaler Partners and its employees, FONS has approximately 60 employees worldwide and estimated 2005 sales of US$95 million. In addition to its corporate headquarters in Marlboro, Massachusetts, FONS has strategic partnerships and outsourcing relationships in countries including Mexico, Japan and China. ADC has agreed to acquire FONS for payments of US$172 million in cash, net of any FONS debt at the time of closing. This amount is inclusive of a retention bonus pool that will be paid to most of FONS' current employees. The transaction is expected to close during the next 30 to 90 days.
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