€5M Optical Fiber Investment

ZJF Group of Zhejiang, China, an integrated plastic optical fiber systems and solutions provider, has acquired Cork, Ireland-based !%Firecomms Ltd.%!, a manufacturer of transceivers for consumer plastic optical fiber. The deal guarantees a €5 million investment in R&D, together with the expansion of Firecomms’ engineering team from 18 to 30 people over the next 12 months. The agreement also is expected to facilitate the rapid expansion of Fire-comms’ operations in mainland China. Shareholders in Firecomms included Atlantic Bridge, ACT Venture Capital, Swisscom Ventures, Alps Electric and Enterprise Ireland.