MicroOptical Devices acquired by Emcore

MicroOptical Devices acquired by Emcore

MicroOptical Devices Inc. (Albuquerque, NM), a developer of optical components and subsystems based on VCSEL technology, has been acquired by Emcore Corp. (Somerset, NJ) in a stock purchase valued at approximately $30 million. A significant portion of the purchase price will be taken as a one-time charge by Emcore related to the write-off of in-process R&D costs. The current management team of Thomas M. Brennan and Robert P. Bryan will run MicroOptical Devices as a separate subsidiary.