Finisar agreed to acquire u2t Photonics AG for approximately $20 million in cash. Finisar will also assume net debt of approximately $7 million.
Photonics AG, which is based in Berlin, Germany, supplies ultra high speed optical components up to 100 GHz. Its product portfolio includes TELCORDIA qualified portfolio of photodetectors, highly integrated photoreceivers and modulators supporting advanced transmission formats at 40 Gbps and 100 Gbps and beyond offers superior performance serving the requirements from transponder vendors, line card and system designers as well as test equipment vendors. In calendar year 2013, u2t had total revenues of approximately $33 million. The company was founded in 1998.
Finisar said the acquisition adds u2t's Indium-Phosphide (InP)-based 100G high speed receivers and photodetectors to its existing portfolio of high speed optics technologies. In addition, this acquisition will consolidate Finisar's previously announced partnership with u2t on InP-based IQ Mach-Zehnder modulators for 100G coherent applications. These receiver, photodiode and modulator technologies and products, when combined with Finisar's narrow-line width tunable lasers, will provide a full suite of optical components and enable Finisar to offer its customers vertically integrated modules for the 100G coherent metro and long haul markets.
"We are pleased with the acquisition by Finisar. During our collaboration to acquire the assets of COGO Optronics GmbH and develop the InP modulator technology from the Fraunhofer Heinrich-Hertz-Institute (HHI), we realized that Finisar's technical strength, ability to cost effectively commercialize technology and global access to customers and markets would combine extremely well with our industry leading technology and design capabilities. Furthermore, the acquisition provides a one-of-a-kind opportunity for our employees and innovative technologies to make a greater impact on the optical communication markets," said Andreas Umbach, CEO and Co-Founder of ut2.