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Date Announced: 08 May 2012
Completion of $17 million deal that was announced last month.
ALBUQUERQUE, N.M., May 8, 2012 (GLOBE NEWSWIRE) -- EMCORE Corporation (Nasdaq:EMKR - News), a leading provider of compound semiconductor-based components and subsystems for the fiber optics and solar power markets, announced today that it has completed the sale of its Vertical Cavity Surface Emitting Lasers (VCSEL)-based product lines to Sumitomo Electric Device Innovations U.S.A., Inc. (SEDU), a subsidiary of Sumitomo Electric Industries, LTD (SEI).
As previously disclosed, SEI agreed to pay $17 million in cash for the fixed assets, inventory and intellectual property of the VCSEL-based product lines within EMCORE's fiber optics business unit, subject to closing adjustments. These product lines include VCSEL and photodiode components, parallel optical transceiver modules, and active optical cables.
Source: Emcore
E-mail: investor@emcore.com
Web Site: www.emcore.com
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