Emcore Closes Sale Of Tunable Lasers And Transceivers To NeoPhotonics
Emcore, a provider of compound semiconductor-based components, subsystems, and systems, announced today that it has completed the previously announced sale of its tunable laser and transceiver product lines for $17.5 million to NeoPhotonics.
With the closing of the transaction, Emcore received $1.5 million in cash and a promissory note from NeoPhotonics in the principal amount of $16 million.
The promissory note will mature two years from the closing date of the transaction, subject to repayments under certain circumstances, and is secured by certain of the assets sold to NeoPhotonics in the transaction. The purchase price is subject to certain post-closing adjustments for inventory, net accounts receivable and pre-closing revenue levels, which will increase or decrease the principal amount of the promissory note as applicable.
NeoPhotonics, based in San Jose, California, is a designer and manufacturer of photonic integrated circuit, or PIC, based optoelectronic modules and subsystems for bandwidth-intensive, high-speed communications networks.
The sale includes Emcore's External Cavity Laser (ECL)-based Integrable Tunable Laser Assembly (ITLA), micro-ITLA, Tunable XFP transceiver and Integrated Coherent Transmitter (ICT) products for 10, 40, 100 and 400 Gbps telecommunications networks.
Emcore retains its broadband fibre optics products including CATV transmitters and modules, Fibre-To-The-Premise transceivers, InP-based lasers, photodiodes and modulators, RF over fibre satellite communications products, video transport equipment, and microwave and specialty photonics products.