Lumera merges with GigOptix to focus on high-speed optical interconnects

Bothell, WA--Photonic communications company Lumera Corporation entered into an agreement to merge with privately held GigOptix (Palo Alto, CA), a provider of integrated circuits for optically connected communication systems. The combined company will be listed on the NASDAQ market under the name GigOptix, Inc., and will be led by GigOptix's CEO and chairman Avi Katz, who will serve as CEO and chairman of the combined company.

In conjunction with the merger, Lumera will cease investing in Plexera Bioscience, Lumera's life science tools subsidiary. The decision to exit this business will allow the combined company to focus its resources solely on the electro-optic space. Day to day operations in Plexera will be discontinued immediately in order to minimize cash expenses while Lumera seeks ways to realize value from Plexera's assets and intellectual property.

"We're proud of the accomplishments and progress we've made in both our electro-optic and bioscience businesses. However, we do not have enough cash resources to see both businesses reach their full commercial potential. After carefully considering our strategic options, it became clear that the greatest shareholder value would be derived by focusing on our electro-optic business," said C. James Judson, chairman of Lumera. "Lumera's strategic roadmap calls for growing our EO product offerings to include optical modules utilizing our innovative polymer technology. GigOptix is currently a leader in electronic engines for high-speed optical interconnects. Integrating our superior polymer modulators with GigOptix's leading drivers, receivers and electronic engines will create products that are highly competitive in the communications marketplace and other markets for optically connected devices and systems."

For more information, visit www.lumera.com.