SOMERSET, N.J., July 16 -- New Jersey compound semiconductor manufacturer Emcore Corp. announced it has acquired Corona Optical Systems, of Lombard, Ill., and Eau Claire, Wisc., in a cash-for-stock merger. Corona Optical Systems makes dime-size fiber optic modules for telecommunications equipment, including the OptoCube ultrasmall form factor transceiver for use in high-density telecom switching boxes. Emcore acquired Corona's product lines, intellectual property, manufacturing technology and all physical assets for a cash payment of $1.2 million. In the last twelve months before closing, Corona had revenues of approximately $2.9 million. Approximately 13 employees of Corona Optical Systems will join Emcore. Emcore said it expects sales of Corona's OptoCube transceiver to exceed $4 million in the next twelve months. "This acquisition adds an extremely talented design and engineering team and provides ownership of a valuable intellectual property portfolio, including a number of advanced technologies such as a panelized substrate and automated optical alignment techniques, that Emcore will be able to incorporate into its existing product families," said Robert Bryan, vice president of Emcore. "With the addition of the OptoCube transceiver to our existing parallel optical product family of SNAP-12, QuadLink and SmartLink transceivers, Emcore has demonstrated its continued commitment to the parallel optics market." Parallel optical modules utilize an array of multiple-channel VCSEL lasers and detectors to transmit and receive optical signals traveling in multimode fibers over a distance up to 300 meters. These small form-factor modules, with 12 channels of parallel transmission, carry an aggregated bandwidth of 40 gigabits per second. They have been used in high-end switching and routing of telecom equipment. For more information, visit: www.emcore.com