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Intel offloads Optical Platform Division to EMCORE for $85 million |
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Dec 18, 2007 at 03:03 PM |
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 Intel Corporation has entered into a definitive agreement to sell the telecom-related portion of its Optical Platform Division for $85 million and is reviewing options in regard to the enterprise-focused portion of its Optical Platform Division. The new buyer is EMCORE, who plans to expand its fiber optics product portfolio by offering more complete product solutions.
“The acquired assets should drive substantial product cost reduction, and the combined product portfolio should enable EMCORE to gain a greater share of customer spending,” noted Reuben Richards, CEO of EMCORE. “EMCORE estimates these assets will generate $65 million of revenue in 2008, and believes this acquisition will accelerate its path to earnings per share profitability as expected in mid-2008.”
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