Agere offloads optoelectronics business for $40 million
TriQuint Semiconductor has announced the purchase of a substantial portion of Agere's optoelectronics business for $40 million in cash.
The transaction includes the products, technology and some facilities related to Agere's optoelectronics business, which includes lasers, detectors, modulators, passive components, arrayed waveguide-based components, amplifiers, transmitters, receivers, transceivers, transponders, and MEMS.
The agreement does not include Agere's business providing optoelectronics components for CATV (cable television) transmission systems, although Agere is continuing to pursue a buyer for that business.
As part of the deal, approximately 300 Agere research and development, process engineering, marketing, product management and assembly and test employees will join TriQuint.
The companies anticipate closing the sale in early January 2003, subject to regulatory approval and other customary closing conditions.
'The sale of our optoelectronics business will allow us to squarely focus on providing advanced chips for wireless networks, multi-service networking and high-density storage applications,' said Sohail Khan, executive vice president of Agere's Infrastructure Systems Group. 'We will work closely with TriQuint to ensure a smooth transition for our optoelectronics customers, most of whom we will continue to serve as an integrated circuit supplier.'