News Article
Finisar to acquire Genoa, relocate Demeter
It's all change at Finisar as the company acquires Genoa and relocates its Demeter business.
Finisar has announced that it plans to acquire optical amplifier manufacturer Genoa. The deal with Genoa is expected to be completed during April and involves the transfer of 7 million Finisar shares, making the deal worth $6.6 million based on the company s closing price on April 2 of $0.94. Genoa’s CEO Fariba Danesh will become Finisar s new COO.
As part of the acquisition, Finisar will close the facilities of Demeter Technologies in El Monte, CA, which produces long-wavelength Fabry Perot and DFB lasers and was acquired by Finisar in 2000. Finisar will move Demeter’s activities to Genoa’s site in Fremont, CA.
Genoa s linear optical amplifier (LOA) uses a single-chip design that incorporates a long wavelength VCSEL. Finisar’s interest in Genoa is probably less driven by its desire to have an optical amplifier in its portfolio than by its interest in acquiring Genoa’s 1310 and 1550 nm VCSEL technology. These VCSELs could be incorporated into Finisar’s transceiver products.
