NeoPhotonics completes acquisition of integrated photonics PIC company Santur
San Jose, CA--After announcing its intention to acquire Santur in September,photonic integrated circuit (PIC) modules and subsystems manufacturer NeoPhotonics Corporation (NYSE: NPTN) completed the acquisition of privately held Santur Corporation (Fremont, CA), a designer and manufacturer of indium phosphide (InP)-based PIC products. NeoPhotonics will pay an estimated $39.2 million in cash for Santur, after deductions for closing costs and other adjustments, plus up to $7.5 million additional cash contingent on the financial performance of Santur products subsequent to closing of the transaction through the end of 2012.
"The acquisition of Santur further enhances our leading position in PIC-based modules and subsystems for high speed networks," said Tim Jenks, chairman and CEO of NeoPhotonics. "By combining active InP PICs from Santur with our hybrid PICs, we can provide our customers with new products for 100G coherent systems that feature higher levels of integration, higher performance and greater functionality."
Founded in November 2000, Santur is focused on commercializing PIC-based laser array and packaging technologies for high-speed communications. Santur's technology includes established telecom designs offering elegant approaches to wide tunability as well as high-speed transceivers. Santur products are designed to provide reduced size, power consumption and cost for a wide range of DWDM, coherent, and networking applications in 10G, 40G and 100G networks.
Also inconnection with the acquisition of Santur Corporation, the NeoPhotonics 2011 Inducement Award Plan was granted to retain certain Santur employees (118 total) as employees of the NeoPhotonics group. The retention included stock options that were approved by the Compensation Committee of NeoPhotonics board of directors and were granted as a material inducement to employment with the NeoPhotonics group. The NeoPhotonics board of directors approved the 2011 Inducement Award Plan based on the employment inducement exemption provided under the NYSE listing standards.
NeoPhotonics is headquartered in San Jose, CA and has ISO 9001:2000 certified engineering and manufacturing facilities in Silicon Valley and Shenzhen, China.
SOURCE: NeoPhotonics; www.neophotonics.com/news/newsneo_1616862.aspx
Gail Overton | Senior Editor (2004-2020)
Gail has more than 30 years of engineering, marketing, product management, and editorial experience in the photonics and optical communications industry. Before joining the staff at Laser Focus World in 2004, she held many product management and product marketing roles in the fiber-optics industry, most notably at Hughes (El Segundo, CA), GTE Labs (Waltham, MA), Corning (Corning, NY), Photon Kinetics (Beaverton, OR), and Newport Corporation (Irvine, CA). During her marketing career, Gail published articles in WDM Solutions and Sensors magazine and traveled internationally to conduct product and sales training. Gail received her BS degree in physics, with an emphasis in optics, from San Diego State University in San Diego, CA in May 1986.