Tuesday, February 26, 2008

Gemfire Merges With Covega

Fremont-based Gemfire, a developer of photonics components and technology, has merged with Covega, a Jessup, Maryland-based opto-electronics firm, according to venture capital firm Core Capital Partners. Financial terms of the deal were not disclosed. Core Capital said that Covega will become a wholly owned subsidiary of Gemfire. Pascal Luck of Core Capital will be added to Gemfire's board as part of the merger.