DMG Technologies buys Demeter from Finisar
Demeter was founded in August 2000 and was acquired by Finisar in November of that year in a stock-based deal valued (at the time) at $146 million (see Finisar announces acquisition of Demeter Technologies).
In April of this year, Finisar acquired Genoa and announced that it was relocating Demeter to Genoa s facility in Fremont, CA (see Finisar to acquire Genoa, relocate Demeter).
Malcolm McLean, president and CEO of DMG, was formerly director of sales and marketing at thin-film manufacturer Auxora. Prior to that he was VP of worldwide sales at Lyte Optronics, a manufacturer of visible laser components that was the precursor company to Demeter.
Demeter was set up by former employees of AXT, which acquired Lyte Optronics in May 1999. At the time of its acquisition by Finisar, Demeter s president and CEO was Ted Young, brother of AXT s president and CEO Morris Young.
"DMG already has added new supply agreements to the stable customer base that was in place at the time of purchase," said McLean. "We continue to provide technical, engineering, and service support for existing product lines.”
In addition, McLean says that DMG has an aggressive new product roadmap to address needs in a number of industries including sensors, biomedicine, spectroscopy, and government, as well as telecom and datacom.
"These products include a 2.5 and 10 Gbit/s APD-TIA receivers, 2.5 and 10 Gbit/s DFB TOSAs, and EPON BiDi with APD," he said. "As a result, DMG has embarked on a significant program to add highly qualified staff and state of the art equipment to our already excellent team."
