Tuesday, May 10, 2005

CyOptics Raises $24 Million, Closes TriQuint Acquisition

CyOptics, a supplier of optical chips and components, raised an additional $24 million in equity and debt financing in its Series F funding round. Major equity participants in the latest round include JVP (Jerusalem Venture Partners), Sprout Group, TowerBrook Capital Partners (formerly Soros Private Equity Partners), and EURfund. This announcement comes just eight months after CyOptics closed its Series E round, which totaled $10.3 million.

CyOptics also announced the closure of its acquisition of TriQuint's optoelectronics operations in Pennsylvania and Matamaros, Mexico. The transaction was valued at approximately $23.5 million including a combination of cash, equity and seller financing.

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