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


44 1708 335400


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.

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Recent Private Companies Transactions

No transactions available in the past 12 months.

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