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Emcore's Shareholders approve Sale of Space Photovoltaics business

Emcore, a provider of compound semiconductor-based components, subsystems, and systems for the fibre optics and space solar power industries, has announced that its shareholders have approved the previously announced sale of Emcore's space photovoltaics business.

The buyer is SolAero Technologies, an affiliate of private equity firm Veritas Capital. The transaction is expected to close on or about December 10, 2014, subject to the satisfaction or waiver of the remaining conditions to closing.

Emcore's space photovoltaics business provides products for space-power applications including high-efficiency multi-junction solar cells, Coverglass Interconnected Cells (CICs) and complete satellite solar panels

Veritas Capital is a private equity firm that invests in companies that provide products and services to government and commercial customers worldwide including those operating in aerospace & defence, healthcare, technology, national security, communications, energy and education.

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