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Sensors Unlimited to Buy Finisar Subsidiary
Oct 2002
PRINCETON, N.J., Oct. 8 -- Sensors Unlimited, developer of indium gallium arsenide (InGaAs) technology, has announced it will purchase certain assets and accept certain liabilities from Finisar Corp.'s Sensors Unlimited subsidiary for $6.1 million in cash. The new company will assume the name Sensors Unlimited, and the existing management team and employees will be retained, the company said.

By returning to an employee-owned, privately-held company, Sensors Unlimited said it can focus on its core markets -- military, industrial spectroscopy and telecommunications. Finisar will retain the high-speed avalanche and PIN photodetector product lines and technology. Sensors Unlimited will gain a royalty-free license to use this technology in areas such as military and free-space communications.

"We're going back to our small-business roots," said Greg Olsen, president of Sensors Unlimited. "Sensors Unlimited built its business on InGaAs photodiode arrays and cameras, primarily for the industrial spectroscopy and military markets. Our focus shifted when telecommunications companies discovered that our photodiode arrays could be used to monitor optical networks. However, in the current economic conditions, we must diversify our market focus to achieve profitability and long-term revenue."

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