SUNNYVALE, Calif., Feb. 11 -- Finisar Corp., developer of gigabit fiber optic solutions for high-speed data networks, announced it has acquired the assets of AIFOtec GmbH, located in Munich, for approximately $2.3 million. AIFOtec was established in June 2000 to develop optical subsystems for telecom applications using a unique process for assembling and testing optical modules. The purchase price includes the acquisition of capital equipment, inventory and intellectual property. In addition, Finisar has agreed to hire approximately 30 former AIFOtec employees. The transaction was completed on Feb. 1.
Finisar also announced that it will use the acquisition as an opportunity to strengthen its sales and marketing presence in Europe for its optical components and subsystems. The new company will be known as Finisar Europe GmbH.