The sale is an asset sale including the products, manufacturing equipment, inventory, the Mexican entity, related intellectual property rights and other assets that constitute the operation that manufactures indium phosphide (InP) optical chips and components for the optical networking market.
TriQuint will continue to support current optical customers and products based on gallium arsenide not associated with the operations in
CyOptics plans to employ the vast majority of TriQuint’s approximately 100 employees in
Separately, TriQuint announced on March 11, 2005, that it had entered into an agreement to sell its nearly 850,000 square feet optoelectronics facility and surrounding property in Breinigsville, PA, to Anthem Partners, an affiliate of MRA Group of Plymouth Meeting, PA.
MRA intends to transform the existing facility into an advanced technology centre, featuring a combination of technology research and development, bio-medical engineering, high tech manufacturing, and a related education advancement and conference centre.
CyOptics will lease approximately 90,000 square feet of space in this facility for its operations once it has completed its purchase of the business from TriQuint.
TriQuint anticipates the sale to CyOptics will close by the end of April 2005 and the sale to Anthem by the end of May 2005.