January 10, 2014—Finisar Corporation (Sunnyvale, Calif., U.S.A.), provider of fiber-optic subsystems and components, announced January 8 an agreement to acquire 100 percent of the equity interests in u2t Photonics AG (Berlin, Germany), maker of ultra-high speed optical components, for approximately $20 million in cash, subject to certain adjustments. Finisar will also assume approximately $7 million in net debt. The transaction is expected to close by the end of January, subject to customary conditions.
The transaction expands Finisar’s portfolio of high-speed optical technology with u2t's indium-phosphide (InP)-based 100G high-speed receivers and photodetectors. The acquisition expands upon a previously established partnership wherein Finisar incorporated ut2’s InP-based IQ Mach-Zehnder modulators in its solutions for 100G coherent applications. Finisar’s narrow-linewidth tunable lasers, when combined with u2t’s 100G coherent telecom technologies and products, including receivers, photodiodes and modulators, will enable Finisar to offer an expanded line of vertically integrated 100G coherent modules for metro and long haul. For calendar year 2013, u2t had revenues totaling approximately $33 million.