Emcore Buys Opticomm
SOMERSET, N.J., April 16, 2007 -- Emcore Corp., a provider of compound semiconductor-based components and subsystems for the broadband, fiber optic, satellite, and solar power markets, today announced that it has acquired privately-held Opticomm Corp. for $4 million plus an earn-out payment.
The stock purchase transaction closed on Friday; Emcore paid $4 million for San Diego-based Opticomm, a maker of advanced optical communications systems. Emcore will make an additional earn-out payment, the terms of which were not disclosed, based on Opticomm's 2007 revenues, which are expected to total approximately $7 million. In 2006, Opticomm generated revenues of $6.3 million.
"This represents a tremendous opportunity to increase Emcore's presence in the rapidly expanding video transport market," said Chris Larocca, vice president and general manager of Emcore's Ortel div. "This transaction enables Emcore to integrate the complementary technologies added from the recent acquisition of Force Inc. into a single, high-density and modular platform."
For more information, visit: www.emcore.com