POET acquires Super Photonics Xiamen
The company says this step complements its recent agreements with Globetronics Manufacturing, and expects the combined production capacity of the assembly and test operations in Penang, Malaysia and at SPX to exceed one million optical engines per year
POET Technologies has announced that it has completed its acquisition of control of Super Photonics Integrated Circuit Xiamen Co., Ltd. (SPX), the company jointly held by, and previously operated as a joint venture between POET and Quanzhou San'an Optical Communication Technology Co., Ltd. (SAIC or Sanan). The company has now acquired all of the outstanding minority equity interests of SPX not already owned by the company from SAIC, thus securing 100 percent ownership of SPX.
According to POET, the SPX operation complements its recently announced agreements with Globetronics Manufacturing to manufacture optical engines in Penang, Malaysia. The combined production capacity of the two assembly and test operations is expected to exceed one million optical engines per year, all dedicated to the 800G and higher-speed transceivers required for AI clusters. POET intends to continue the assembly of optical engines at SPX within the cleanrooms leased from SAIC until such time as it decides on another location for the operation. The company also intends to change the name to identify it as a subsidiary of POET and may eventually merge operations with its existing wholly owned foreign enterprise, POET Optoelectronics Shenzhen Co. Ltd.
“We are pleased to have concluded the acquisition of the equity held by Sanan and the equipment formerly leased to SPX by Sanan on favourable terms,” commented Suresh Venkatesan, chairman and CEO of POET. “We can now present one face to our customers in China, exercise full control over company operations, benefit from a consolidation of SPX financial results with POET, and fully implement our ‘China Plus One' strategy.”
