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TriQuint to acquire Agere optoelectronics business

Posted: 25 Oct 2002 ?? ?Print Version ?Bookmark and Share

Keywords:optoelectronics? lasers? detectors? modulators? passive components?

TriQuint Semiconductor Inc. has announced that it will acquire a substantial portion of Agere System'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 transmission systems based in Alhambra and Irwindale, California. Agere is still currently scouting for a buyer for that business.

As part of the deal, about 300 Agere R&D, process engineering, marketing, product management and assembly and test employees will join TriQuint. The companies hope to close the sale by early January next year, subject to regulatory approval and other customary closing conditions.

In relation to this acquisition, a transitional manufacturing agreement was forged in which Agere will supply components for TriQuint over a short period following the transaction closing, to ensure seamless service to customers. Agere currently manufactures the majority of these components at its Breinigsville, Pennsylvania facility, which TriQuint will also purchase following the transition period. TriQuint will also acquire the back-end assembly and test operations at Agere's Matamoros, Mexico facility.

"The sale of our optoelectronics business will allow us to squarely focus on providing advanced chips for wireless networks, multiservice networking, and high-density storage applications," said Sohail Khan, EVP 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 IC supplier."

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