Telecom Lead America: Fujikura, a provider of optical
fibers and fiber-optic components, is set to acquire Nistica, a provider
of wavelength selective switches (WSS) to network equipment manufacturers.
Fujikura has been Nistica’s strategic investor, a joint
developer of R&D, a manufacturing partner and a sales channel for the Japan
market since 2007.
Nistica will operate post-acquisition as a Fujikura
subsidiary with its founders and key employees continuing the company’s
development of optical products.
Fujikura will provide the financial and R&D
resources to speed development and bring new agile optical products to a
resurgent WSS market, which is expected to grow between 15 and 20 percent
annually during the next few years,” said Ashish Vengsarkar, Nistica CEO.
Nistica raised more than $30 million in equity investment
and received a $1 million Edison Innovation Fund investment from the New Jersey
Economic Development Authority.
The company has been a Battelle
Ventures Portfolio Company since 2008 when the venture firm and its
affiliate fund, Innovation Valley Partners, led the company’s Series B funding
round. The two funds subsequently led two additional financing rounds.
Battelle Ventures General Partner Ralph Taylor-Smith, who
has been an active board member for more than three years, provided valuable
insight right from the initial investment, through the growth stages and into
the deal development, as he had experience in facilitating similar cross-border
We’ve enjoyed taking a leadership role in growing a
promising optical products innovator into an important player in the worldwide
WSS market. Nistica has a bright future and Battelle Ventures achieved a good
financial exit,” said Taylor-Smith, Battelle Ventures’ Washington.