Photonic integrated circuit development in Russia part of NeoPhotonics' investment proceeds

May 1, 2012
San Jose, CA--NeoPhotonics Corporation received a $39.8 million dollar investment from RUSNANO and plans to use a portion of the proceeds to establish design and production capabilities in Russia by mid 2014.

San Jose, CA--Photonic integrated circuit (PIC) module and sub-system designer and manufacturer NeoPhotonics Corporation received an investment from RUSNANO, a $10 billion sovereign investment corporation located in Moscow, Russia. RUSNANO acquired 4.97 million common shares of NeoPhotonics in a private placement transaction at a price of $8.00 per share for gross proceeds of $39.8 million. NeoPhotonics intends to use a portion of the net proceeds from the sale of the shares of common stock for general corporate purposes as well as to establish design and production capabilities in Russia by mid 2014 for the benefit of the global organization.

"We are pleased to receive this strategic investment from RUSNANO," said Tim Jenks, chairman, president, and CEO of NeoPhotonics. "We welcomed this investment as it aligns with our strategy to accelerate growth globally, with particular emphasis on fast growing and emerging markets, including in Russia and the CIS countries."

"Not only are these markets deploying high speed, agile and fiber-to-the-home networks but we are also seeing more of our customers target service providers and invest locally in Russia and more broadly in Eastern Europe," Jenks added. "We started to see and investigate this growth opportunity several years ago, and we added sales capability in the region and have since been engaged with and supplying several customers in Russia. With the planned support from RUSNANO, we believe that NeoPhotonics is well-positioned to capitalize on new and greater opportunities in the region."

NeoPhotonics says its PIC products enable cost-effective, high-speed data transmission and efficient allocation of bandwidth over communications networks. NeoPhotonics maintains headquarters in San Jose, CA and ISO 9001:2000 certified engineering and manufacturing facilities in Silicon Valley (USA) and Shenzhen, China. The Company's per share closing trading price on April 27, 2012, was $4.49. These shares are restricted from resale pursuant to a lockup agreement for up to two years, at the end of which the Company is obligated to register the shares for potential resale. In connection with the investment, the Company appointed Sergey Polikarpov, RUSNANO Managing Director, to the board of directors.

"One of the unique advantages of NeoPhotonics is its vertically-integrated design and manufacturing processes for photonic integrated circuit-based products," said Mr. Polikarpov. "The Company's planned research and production facilities in Russia are intended to be able to perform a wide range of steps from PIC development to processing and fabrication. We believe that with our support in Russia, we can further enhance the Company’s development cycles and shorten the time for broader adoption for NeoPhotonics products in Russia and the global market."

RUSNANO was founded in March 2011 as an open joint stock company through reorganization of state corporation Russian Corporation of Nanotechnologies. RUSNANO’s mission is to develop the Russian nanotechnology industry through co-investment in nanotechnology projects with substantial economic potential or social benefit.

SOURCE: NeoPhotonics; www.neophotonics.com/news/newsneo_1688884.aspx

Sponsored Recommendations

Request a free Micro 3D Printed sample part

April 11, 2024
The best way to understand the part quality we can achieve is by seeing it first-hand. Request a free 3D printed high-precision sample part.

How to Tune Servo Systems: The Basics

April 10, 2024
Learn how to tune a servo system using frequency-based tools to meet system specifications by watching our webinar!

Motion Scan and Data Collection Methods for Electro-Optic System Testing

April 10, 2024
Learn how different scanning patterns and approaches can be used in measuring an electro-optic sensor performance, by reading our whitepaper here!

How Precision Motion Systems are Shaping the Future of Semiconductor Manufacturing

March 28, 2024
This article highlights the pivotal role precision motion systems play in supporting the latest semiconductor manufacturing trends.

Voice your opinion!

To join the conversation, and become an exclusive member of Laser Focus World, create an account today!