POET completes BB Photonics acquisition
POET Technologies has announced the completion of its acquisition of all of the shares of BB Photonics, a private designer of integrated photonic devices for the datacoms market. POET completes the transaction owning 100 percent of BB Photonics and its assets, including intellectual property and technologies.
BB Photonics, a pre-revenue, New Jersey-based privately held company develops photonic integrated components for the datacentre market using embedded dielectric technology that is intended to enable on-chip athermal wavelength control and lower the total solution cost of datacentre photonic integrated circuits (PICs).
This strategic acquisition is designed to provide POET with additional differentiated intellectual property and know-how for product development, enable POET to better service its first identified commercialisation market - the end-to-end data communications market - and augment its sensing roadmap.
"The addition of BB Photonics significantly enhances our integrated photonic solution set and advances our commercialisation initiative," said Suresh Venkatesan"¨, POET's CEO. "By internal development and acquisition, we are accelerating our drive from technology leadership to market entry in differentiated photonics."
The POET platform and process technology continue to be the focal point of the company's commercialisation strategy. To this end, the POET team continues to make progress toward its previously announced goal of demonstrating an integrated product prototype by the end of 2016 using the POET platform.
POET says that its recent acquisitions and organic development are meant to serve as a logical continuum of the roadmap by enabling immediate market entrance into its first identified commercialisation market - datacoms. The acquisitions also allow the company to engage prospective customers with an extensive range of integrated photonics products, thereby enabling multiple differentiated product sales and enhancing potential revenue.
