Wednesday, March 1, 2006

Bookham to Acquire Avalon Photonics for VCSELs

Bookham agreed to acquire Avalon Photonics, a supplier of single-mode and multimode Vertical Cavity Surface Emitting Lasers (VCSEL) chips, arrays and subassemblies for sensing and datacom applications, for approximately 765,000 shares of Bookham common stock valued at approximately $5.5 million on signing, and a potential additional 348,000 share earn-out based upon Avalon achieving certain revenue and production performance criteria over a two-year period.

Avalon, which is based in Zurich, Switzerland, developed a single-spatial-mode VCSELs suitable for many sensing and measurement applications and the latest generation of 4GB transceivers.

"The acquisition of Avalon strengthens Bookham's product portfolio by adding a new chip technology -- VCSELs -- to our already broad chip-design. This technology will extend our product offerings in the datacom and sensing markets, areas we believe offer good growth opportunities," said Dr. Giorgio Anania, president and CEO of Bookham Inc.


See also