€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.