POET Technologies to acquire BB Photonics to broaden III-V materials portfolio
POET Technologies will acquire all the shares of BB Photonics, a private designer of integrated photonic solutions for data communications.
POET Technologies (OTCQX:POETF; San Jose, CA), a developer of optoelectronics fabrication processes for the semiconductor industry, will acquire all the shares of BB Photonics, a private designer of integrated photonic solutions for data communications. BB Photonics is a pre-revenue company that develops photonic integrated components (PICs) using embedded dielectric technology, which is intended to enable on-chip athermal wavelength control and lower the total solution cost of datacenter PICs.
POET says this strategic acquisition will provide it with additional differentiated intellectual property and know how for future product development at its facilities in Singapore recently acquired through the DenseLight transaction. Collectively this will enable POET to better service the end-to-end data communications market and additionally augment its sensing roadmap.
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POET will acquire 100% of the shares of BB Photonics from its shareholders in consideration of the issuance of approximately 2,000,000 common shares from POET’s treasury in this stock-only transaction.
More information about POET and its wholly owned subsidiary, DenseLight: www.poet-technologies.com.