Xtera Acquired Out of Bankruptcy By H.I.G. Capital

Allen, Texas-based Xtera Communications, which had developed optical transport hardware for sub-sea cables, has been acquired by H.I.G. Capital as part of Chapter 11 bankruptcy proceedings. Financial details of the buy were not announced. H.I.G. Capital said that Xtera's management and technical team will remain at the helm of the business after the acquisition. The acquisition was announced earlier this month.