MRV Agrees to Sell Tecnonet S.p.A.

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CHATSWORTH, Calif.--(BUSINESS WIRE)--MRV Communications (NASDAQ: MRVC), a global provider of packet and optical networking solutions, entered into an agreement on August 7, 2015 to sell Tecnonet S.p.A., its Network Integration subsidiary based in Rome, Italy, to Maticmind S.p.A. based in Milan, Italy for total consideration of €19.7 million or approximately $21.4 million based on the current exchange rate of 1.09 USD/€. The consideration includes a cash payment by Maticmind to MRV of €15.6 mill

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