News Article
Finisar to acquire InP telecom expert u2t
With this $20 million acquisition, Finisar will strengthen its portfolio of indium phosphide based 100G coherent technologies
Finisar is to acquire 100 percent of the equity interests in u2t Photonics AG, located in Berlin, Germany for approximately $20 million in cash, subject to certain adjustments.
Finisar will also assume net debt of approximately $7 million.
The transaction is expected to close during the month of January, subject to the satisfaction of customary closing conditions. With this transaction, Finisar will add u2t's InP-based 100G high speed receivers and photodetectors to its existing portfolio of high speed optics technologies.
In addition, this acquisition will consolidate Finisar's previously announced partnership with u2t on InP-based IQ Mach-Zehnder modulators for 100G coherent applications.
These receiver, photodiode and modulator technologies and products, when combined with Finisar's narrow-line width tuneable lasers, will provide a full suite of optical components and enable Finisar to offer its customers vertically integrated modules for the 100G coherent metro and long haul markets. In calendar year 2013, u2t had total revenues of approximately $33 million.
"We are pleased with the acquisition by Finisar. During our collaboration to acquire the assets of COGO Optronics GmbH and develop the InP modulator technology from the Fraunhofer Heinrich-Hertz Institute (HHI), we realised that Finisar's technicalstrength, ability to cost effectively commercialise technology and global access to customers and markets would combine extremely well with our industry leading technology and design capabilities. Furthermore, the acquisition provides a one of a kind opportunity for our employees and innovative technologies to make a greater impact on the optical communication markets," says Andreas Umbach, CEO and co-founder of u2t.
"Finisar is very excited about the near term applications for the u2t technology and products for the 100G coherent telecom markets," adds an enthusiastic John Clark, Finisar's Executive Vice President for Technology and Global R&D. "We are even more excited about the potential to use this technology to help drive data rates higher than 100 Gb/s and form factors smaller than the CFP2 module and enabling new market applications in both telecom and datacom."
