Finisar will acquire Genoa, a start-up specializing in integrated optoelectronic components, for approximately seven million shares of Finisar common stock. The closing price of Finisar’s Common Stock on 31-Mar-03 was $0.78 per share, giving the transaction an aggregate value of approximately $5.5 million. Genoa developed a line of linear semiconductor optical amplifiers (LSOAs) for amplifying DWDM wavelengths. As a byproduct of that technology, Genoa also developed a unique approach for making long wavelength vertical cavity emitting lasers (VCSELs). Genoa is based in Fremont, California.
http://www.finisar.com
http://www.genoa.com
- Genoa was founded by Sol DiJaili and Jeff Walker, both of whom previously developed optoelectronic devices at Lawrence Livermore National Laboratory. Genoa raised $95 million in funding. Investors include August Capital, Bessemer Venture Partners, Global Crossing Ltd, Investor Growth Capital, Levensohn Capital, Meritech Capital Partners, Oak Investment Partners, and WorldCom Ventures.
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In June 2002, Genoa announced a major restructuring of its business.
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In March 2003, Genoa announced that NEC had integrated its second-generation, single-chip linear optical amplifier (LOA) into a 10 Gbps optical transponder module for long reach applications of up to 80 km. The transponder offers 20% less power consumption, 50% smaller size, and a significant cost reduction. Genoa’s amplifier, which on its sub-mount is comparable in size to a grain of rice, also features a doubling in output power over first generation LOAs.