Thursday, April 10, 2008

Intel Shops Optical Platform Division to EMCORE

Santa Clara-based chip manufacturer Intel Corp. has agreed to sell the enterprise and storage assets of its Optical Platform Division to EMCORE Corp., EMCORE announced Thursday. EMCORE, which manufactures semiconductor components and subsystems for the broadband, fiber optic, satellite and solar power industries, said it will also gain Intel's Connects Cable business. To finance the transaction, EMCORE said it will issue 3.7 million shares of restricted stock, with adjustments made based on EMCORE's stock price. EMCORE said that the transaction covers intellectual property, inventory, fixed assets, optical transceiver technology and optical cable interconnects, and that it expects the transaction to close later this quarter.