Coriant Begins Independent Path, Starts with Leadership Position in Optical Networking Market
Marlin Equity Partners completes the acquisition of the Optical Networks business of Nokia Siemens Networks
MUNICH, Germany: May 6, 2013 - Marlin Equity Partners, today announced the closing of the transaction announced on December 3, 2012, which transfers the Optical Networks business of Nokia Siemens Networks to form Coriant. The company sets a new course and vision for the optical networking industry. Launched at the industry fair OFC/NFOEC in March 2013, Coriant focuses on accelerating leadership through its high-performance coherent 100G transport solutions and software-defined, optical layer intelligence.
"We are very excited to start our journey forward as an independent company," said Herbert Merz, President and Chief Executive Officer, Coriant. "We enter the market with proven expertise in optical networking solutions that form the foundation for building Tier 1 networks around the world. We will continue to increase value for our customers as an ever-growing demand for mobile, video and cloud services creates new opportunities for differentiated, end-to-end service offerings."
Coriant today formally resumed full business responsibility as well as the majority of employees from Nokia Siemens Networks' Optical Networks business. With the closing of the transaction, the newly formed company will have operations in more than 48 countries. Coriant, which plans to leverage its 30 years of German engineering excellence to lead the optical networking industry, takes up operations with the competitive advantage of being the preferred supplier to fixed line and mobile network operators in six continents and more than 100 countries.
Nick Kaiser, a partner at Marlin, stated "We are excited to back the Coriant team and we view the standalone business as an ideal platform for growth in the optical networking sector. We are committed to extending Coriant's market leadership by actively pursuing both, organic growth opportunities and strategic acquisitions."
"With today's exponential expansion in bandwidth demand, the global growth prospects of optical networking are enormous," said Pat DiPietro, an operating partner at Marlin. "We believe that Coriant's strong management team and relentless pursuit of innovation will continue to drive the company forward as an industry leader."
Coriant, founded as an independent company in 2013, is a global supplier of leading optical transport solutions and software-defined, optical layer intelligence to Tier 1 networks. Coriant's products enable fixed line and mobile network operators to maximize the performance and value of their infrastructure as bandwidth demands on networks grow exponentially. The company operates worldwide in more than 48 countries and is headquartered in Munich, Germany. Coriant has R&D centers in Asia, Germany, Portugal and the U.S., as well as a production center in Berlin, Germany. Learn more at www.coriant.com.
About Marlin Equity Partners
Marlin Equity Partners is a global private investment firm with over $1 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthens a company's outlook and enhances value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 60 acquisitions. The firm is headquartered in Los Angeles, California with an additional office in London. For more information, please visit www.marlinequity.com.