IPG Photonics acquires Padtec submarine systems division
Padtec has agreed to sell its submarine optical systems division to IPG Photonics.
The transaction – in the amount of R$75 million – is part of Padtec’s strategy to focus on the high-capacity optical transport market for terrestrial networks. Resources resulting from the sale will be used for research and development, as well as expanding the company in the global market.
Manuel Andrade, Padtec’s CEO commented on the transaction: ‘We are very happy to know that a globally recognized company, such as IPG, validates, with this transaction, the value generated by Padtec. Moving forward, the focus of the company will be to direct these additional resources to continue to offer advanced and robust products and services, making Padtec increasingly competitive.’
Ekaterina Golovchenko, IPG Photonics’ vice president of telecommunication systems added: ‘This acquisition will allow IPG to advance the market for submarine networking systems. Combining Padtec’s leading-edge submarine network technologies with IPG’s high-power optical amplifier, Raman pumping, and WDM systems technologies will enable us to effectively compete for a growing number of undersea cable network deployments around the world.’
The acquisition additionally provides IPG Photonics with the structure for submerged plant deployment, operation and maintenance services.