TriQuint Semiconductor to Buy Agere Optoelectronics Business

HILLSBORO, Ore. and ALLENTOWN, Pa., Oct. 23 -- TriQuint Semiconductor Inc. and Agere Systems announced yesterday that TriQuint will acquire a substantial portion of Agere's optoelectronics business for $40 million in cash. The transaction includes the products, technology and some facilities related to Agere's optoelectronics business, which includes lasers, detectors, modulators, passive components, arrayed waveguide-based components, amplifiers, transmitters, receivers, transceivers, transponders and microelectromechanical systems.

As part of the deal, approximately 300 Agere research and development, process engineering, marketing, product management and assembly and test employees will join TriQuint. The companies anticipate closing the sale in early January.

The agreement does not include Agere's business providing optoelectronics components for cable television transmission systems, based in Alhambra and Irwindale, Calif. Agere is continuing to pursue a buyer for that business.

For more information, visit: www.agere.com