ROANOKE, VA, June 2, 2008—Optical Cable Corporation (Nasdaq GM:OCCF) announced today that it has acquired Superior Modular Products Incorporated (doing business as SMP Data Communications), a leading supplier of fiber optic and copper connectivity products for the data communications industry. The transaction was consummated on May 30, 2008, and now SMP Data Communications is a wholly owned subsidiary of Optical Cable Corporation. Optical Cable Corporation acquired SMP Data Communications from Preformed Line Products Company (Nasdaq GM: PLPC) for a purchase price of $11.5 million, subject to certain minimum working capital requirements and related purchase price adjustments. The transaction was effected by an Agreement and Plan of Merger, dated May 30, 2008, whereby SMP Data Communications merged with a newly formed wholly owned subsidiary of Optical Cable Corporation.
“Our long-term strategy for Optical Cable includes expanding our product offerings to provide our customers with more complete cabling and connectivity solutions. This acquisition builds on Optical Cable’s strong presence in the enterprise market and is a major step toward fulfilling our long-term vision for Optical Cable,” stated Neil Wilkin, President and CEO of Optical Cable Corporation.
SMP Data Communications will broaden Optical Cable’s product offering to include a fiber optic and copper connectivity. SMP Data Communications manufactures more than 2,000 products including high performing enhanced Category 5e systems, high-density fiber optic enclosures, and cutting edge Category 6a connectivity solutions offering 10 Gig throughput.
“SMP Data Communications is an internationally respected and industry-leading innovator in copper and fiber optic connectivity products. Optical Cable now has the fiber optic and copper connectivity products necessary for us to offer an integrated suite of high quality cabling and connectivity solutions,” stated Mr. Wilkin.
Founded in 1990, SMP Data Communications is located near Asheville, North Carolina, and employs a total of approximately 120 persons, including manufacturing and office personnel.
SMP Data Communications net sales (unaudited) were approximately $21.0 million for
calendar year 2007.
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