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.