SAN JOSE, Calif. Ė Photonic module maker NeoPhotonics Corp. (San Jose) has agreed to acquire privately held Santur Corp. for $39.2 million in cash, gaining access to its 40 and 100 Gbit/s products. NeoPhotonics will pay Santur an additional $7.5 million if it meets unspecified financial goals by the end of 2012.
The board of directors and stockholders of Santur (Fremont, Calif.) have approved the transaction which is expected to close in the fourth calendar quarter of 2011. Founded in 2000, Santur had revenue of about $21 million for the six months ending June 30, 2011 and will provide more financial information when NeoPhotonics releases its third quarter 2011 results.
Santur sells tunable laser arrays for metro and long-haul dense wavelength-division multiplexing systems as well as photonic ICs for 40 and 100 Gbit/s client and coherent line applications. NeoPhotonics recently entered the market for 40 and 100G products.
"Santur has developed innovative indium phosphide products that are critical elements in 100G coherent transmitters and that complement the NeoPhotonics product line," said Tim Jenks, chief executive of NeoPhotonics. "Santurís advanced tunable laser products also fit with our product lines, enabling us to provide customers more complete solutions for reconfigurable networks," he said.
NeoPhotonics was among a handful of U.S. tech companies that went public this year.