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Slide #28. Finisar — u2t Photonics AG
u2t Photonics AG
Finisar Corporation (NASDAQ: FNSR), and u2t Photonics AG announced today that they have entered into an agreement under which Finisar will acquire 100% of the equity interests in u2t Photonics AG, located in Berlin, Germany for approximately $20 million in cash, subject to certain adjustments. Finisar will also assume net debt of approximately $7 million. The transaction is expected to close during the month of January, subject to the satisfaction of customary closing conditions. With this transaction, Finisar will add u2t's Indium-Phosphide (InP)-based 100G high speed receivers and photodetectors to its existing portfolio of high speed optics technologies. In addition, this acquisition will consolidate Finisar's previously announced partnership with u2t on InP-based IQ Mach-Zehnder modulators for 100G coherent applications. These receiver, photodiode and modulator technologies and products, when combined with Finisar's narrow-line width tunable lasers, will provide a full suite of optical components and enable Finisar to offer its customers vertically integrated modules for the 100G coherent metro and long haul markets. In calendar year 2013, u2t had total revenues of approximately $33 million.
Finisar is engaged in optical communications, providing components and subsystems to networking equipment manufacturers, data center operators, telecom service providers, consumer electronics and automotive companies. Co.'s optical subsystems consist primarily of transmitters, receivers, transceivers, transponders and active optical cables, which provide the optical-electrical, or optoelectronic interface for interconnecting the electronic equipment used in these networks, including the switches, routers, and servers used in wireline networks as well as the antennas and base stations used in wireless networks. Co. also provides products known as wavelength selective switches.
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