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Date Announced: 17 Jan 2017
Deal enables Californian firm to concentrate on photonic integration technology.
SAN JOSE, Calif.--(BUSINESS WIRE)--NeoPhotonics (NPTN) (“NEOPHOTONICS” or the “Company”), a leading designer and manufacturer of advanced hybrid photonic integrated optoelectronic modules and subsystems for bandwidth-intensive, high-speed communications networks, today announced that it has completed the previously announced sale of its Access and Low Speed transceiver product lines (the “Low Speed Business”) to APAT Optoelectronics Components Co., Ltd. (“APAT OE”) of Shenzhen, China, a designer and manufacturer of optical sub-assemblies for telecom and datacom markets, under previously announced deal terms.
Commenting on the closing, Tim Jenks, NeoPhotonics’ Chief Executive Officer stated, “We are pleased to complete the sale of our Low Speed Business. This transaction further solidifies our focus on serving the highest speed, highest performance and highest growth segments in the optical communications market where we believe our vertically integrated advanced hybrid photonic integration technology will have the greatest impact.”
In 2015, and for the first nine months of 2016, the Low Speed Business generated $92.8 million and $50.7 million in revenue, respectively, and gross profit of $17.1 million and $9.7 million, respectively. Net assets for the business were approximately $17.0 million as of September 30, 2016.
Source: Neophotonics
E-mail: via web site
Web Site: www.neophotonics.com
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