MRV to Buy Fiber Optic

MRV Communications Inc. said it will buy Fiber Optic Communications Inc. of Taiwan for $263 million in stock and cash to expand in optical components. Chatsworth-based MRV, which makes routers, switches and other products that enhance the performance of telecommunications networks, also said it will take a $13.8-million charge to exit the local-area-network switching business. Fiber Optic Communications makes passive fiber-optic components, including couplers and isolators. With the acquisition, MRV said, it will become one of the world’s largest makers of advanced optical components and modules. Fiber Optic will be merged with MRV’s Optical Access optical-components unit in which MRV intends to sell shares to the public. MRV rose $11.81 to close at $102.31 on Nasdaq.