Product category:
Lasers
News Release from: Bookham
Edited by the Electronicstalk Editorial
Team on 06 March 2006
Acquisition adds VCSELs to opto
portfolio
Bookham is to acquire Avalon Photonics, a Zurich-based supplier of single-mode and multimode vertical cavity surface emitting laser chips, arrays and subassemblies.
Bookham has signed an agreement to acquire Avalon Photonics, a Zurich-based supplier of single-mode and multimode vertical cavity surface emitting laser (VCSEL) chips, arrays and subassemblies for sensing and datacomms applications As consideration, Bookham will exchange approximately 765,000 shares of Bookham common stock valued at approximately $5.5 million on signing, and a potential additional 348,000 share earn-out based on Avalon achieving certain revenue and production performance criteria over a two-year period
This article was originally published on Electronicstalk on 28 Feb 2008 at 8.00am (UK)
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The transaction, which is expected to close in March subject to customary closing conditions, should not have a material effect on Bookham's results for the quarter ending 31st March 2006.
"The acquisition of Avalon strengthens Bookham's product portfolio by adding a new chip technology - VCSELs - to our already broad chip design".
"This technology will extend our product offerings in the datacomms and sensing markets, areas we believe offer good growth opportunities", said Dr Giorgio Anania, President and CEO of Bookham.
"Over the next several months we will transfer Avalon's manufacturing to the current Bookham facility, which should result in an improved utilisation rate for this facility".
"In addition, we expect to leverage the newly combined manufacturing and technical strengths of both companies as we continue to expand our product base for the datacomms and sensing markets".
Avalon Photonics produces VCSELs for the datacomms, sensing and measurement markets.
The company's patent-protected, single-spatial-mode VCSELs offer unsurpassed specifications required for many sensing and measurement applications and the latest generation of transceivers.
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