Luna Innovations, supplier of products for the aerospace, automotive, energy, defence and telecommunications markets, announced that MACOM Technology Solutions has agreed to buy the assets and operations related to its high-speed optical receivers (HSOR) business.
The purchase price includes $29.5 million to be paid in cash at closing and an additional $4.0 million to be held in escrow until December 15, 2018 for possible working capital adjustments to the purchase price and potential satisfaction of certain post-closing indemnification obligations.
The sale includes the operations associated with Luna’s development, manufacturing and sales of products including high-speed integrated coherent receivers and photodiodes. Luna originally acquired these operations as part of its merger with Advanced Photonix, Inc. (API), in May 2015. The assets and employees associated with Luna’s Terahertz operations are not being transferred as part of this transaction.
Through the transaction, employees associated with the company’s HSOR operations and administration in the company’s location in Ann Arbor, Michigan, will transfer to MACOM. The Picometrix line of high-speed optical receivers and optical-to-electrical converters serve the global telecommunications, data centre and manufacturing testing industries.
Luna noted that it intends to use a portion of the proceeds from the transaction to invest in expanding its fibre optic sensing product offering.
Regarding the acquisition, John Croteau, MACOM president and CEO, said, “Similar to MACOM’s high performance analogue and 25 Gbit/s laser products, Luna’s high speed optical receiver products and technology are well-aligned with its previously-announced growth strategy in cloud data centres and other high-speed networking markets”.
http://lunainc.com/luna-announces-sale-high-speed-optical-receivers-technology/
- Earlier this year, Luna Innovations announced that its Picometrix unit had entered into a vendor managed inventory (VMI) agreement with a leading Chinese provider of telecoms equipment and network solutions, under which Picometrix was to maintain in Hong Kong a dedicated inventory of 100 Gbit/s integrated coherent receivers and other products. It also noted it had received a new order for coherent receivers for 100 Gbit/s transport network equipment valued at approximately $1.4 million.
