Finisar To Buy U2t Photonics

(RTTNews) - Finisar Corp. (FNSR) said Wednesday that it has entered into an agreement to buy100% of the equity interests in u2t Photonics AG, located in Berlin, Germany for about $20 million in cash, subject to certain adjustments.

Finisar will also assume net debt of about $7 million.

The deal is expected to close during the month of January.

Finisar will add u2t's Indium-Phosphide-based 100G high speed receivers and photodetectors to its existing portfolio of high speed optics technologies. In addition, the deal will consolidate Finisar's previously announced partnership with u2t on InP-based IQ Mach-Zehnder modulators for 100G coherent applications.

In calendar year 2013, u2t had total revenues of about $33 million.