NeoPhotonics acquires Lightwave Microsystems
March 3, 2003--NeoPhotonics Corp. (San Jose, CA), a developer of nanomaterials-based photonics technologies and products, announced the purchase of Lightwave Microsystems Corp. (San Jose, CA).
Lightwave Micro's product portfolio consists of standard and specialized integrated circuits for advanced optical communication systems, recording sales nearing $10 million in 2002. NeoPhotonics did not release financial details of the purchase, but noted that the companies have completed all actions in merging the operations of the two privately-held entities.
"NeoPhotonics' and Lightwave's complementary product lines make this merger strategically important for the entire optoelectronic industry" says Tim Jenks, chief executive officer at NeoPhototonics. "Combining Lightwave's passive integration platform with NeoPhotonics' active waveguide platform provides the broadest and deepest photonic technology in the industry. Integration of active and passive functions means that optical subsystems are being made smaller and cheaper. Additionally, and possibly of more importance, is the fact that completely new products targeted at metro applications are possible, such as colorless muxes/demuxes and reconfigurable optical add/drop modules, that could bring major cost reduction and performance enhancement to the systems."
A combined management team will run the company and many of Lightwave Micro's more than 200 employees have joined Neophotonics. All of Lightwave Micro's intellectual property was acquired in the sale.
Fourteen-year-old Lightwave Micro ceased operations last September, although its wafer fabrication facility resumed production under engineering management of NeoPhotonics after only a brief shutdown. The facility and products remain qualified and shipping to customers, and the design, engineering, production and quality teams have continued to support existing AWG and variable optical multiplexer (VMUX) products.
NeoPhotonics' backers include Bay Partners, Institutional Venture Partners, CDP Capital Technology Ventures, Rockport Capital Partners, Venrock Associates, SBV Venture Partners, Hydro Quebec CapiTech, Harris & Harris Group, Dow Corning and others.