March 26, 2017 1:25 AM ET

Communications Equipment

Company Overview of Xtera Communications Ltd.

Company Overview

Xtera Communications Ltd. provides submarine optical networking solutions. The company was formerly known as Azea Networks Limited and changed the name to Xtera Communications Ltd. in February, 2008. The company was incorporated in 2001 and is based in Romford, United Kingdom. As of November 29, 2007, Xtera Communications Ltd. operates as a subsidiary of Xtera Communications, Inc. On February 21, 2017, the voluntary petition of Xtera Communications, Inc. for reorganization under Chapter 11 was converted to Chapter 7. It had filed for Chapter 11 bankruptcy on November 15, 2016. It is in joint administration with Xtera Communications, Inc.

Bates House

Church Road

Harold Wood

Romford,  RM3 0SD

United Kingdom

Founded in 2001

Phone:

44 1708 335400

Fax:

44 1708 335425

Key Executives for Xtera Communications Ltd.

Chief Executive Officer
Chief Operating Officer
Chief Technical Officer
Compensation as of Fiscal Year 2016.

Xtera Communications Ltd. Key Developments

Motion for Asset Sale Approved for Xtera Communications, Inc.

The US Bankruptcy Court gave an order approving the sale of substantially all the assets of Xtera Communications, Inc. on January 30, 2017. The debtor has been authorized to sell its substantially all its assets to H.I.G. Europe – Neptune, Ltd., the stalking horse bidder for a purchase price of $10 million in cash plus assumption of assumed liabilities. The debtor did not receive any other competing bids for the purchase of its assets and therefore H.I.G. Europe – Neptune, Ltd. emerged as the winning bidder.

Notice of Auction Cancellation and Selection of Successful Bidder Filed by for Xtera Communications, Inc.

Xtera Communications, Inc. filed a notice in the US Bankruptcy Court for the sale of substantially all its assets on January 24, 2017. As per the notice filed, the debtor did not receive any qualified bids for the sale of its assets and therefore, the auction scheduled for January 25, 2017 has been cancelled. H.I.G. Europe – Neptune, Ltd., the stalking horse bidder, has been selected as the successful bidder. The sale hearing is scheduled for January 30, 2017.

Amended Bidding Procedure Approved for Xtera Communications, Inc.

The US Bankruptcy Court gave an amended order approving the bidding procedures relating to the sale of substantially all the assets of Xtera Communications, Inc. on December 30, 2016. As per the amended order, the initial minimum overbid should be in the amount of at least $10.59 million plus $0.50 million, the maximum aggregate amount of break-up fee and reimbursement plus $0.25 million, the overbid increment. All other bidding procedures shall remain unaltered.

Similar Private Companies By Industry

Company Name Region
A2A Group plc Europe
Access Devices, Inc. Europe
Aculab Plc Europe
Adder Technology Limited Europe
Advanced Technology UK plc Europe

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
The Advertising Council, Inc. United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Xtera Communications Ltd., please visit --. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.