SAN JOSE, CA, (Globe Newswire, May 17, 2016) – POET Technologies Inc. (the “Company” or “POET”) (OTCQX: POETF; TSX Venture: PTK), a developer of opto-electronics fabrication processes for the semiconductor industry, today announced that it has signed a definitive agreement (the "Agreement") to acquire all the shares of BB Photonics Inc. (“BB Photonics”), a private designer of Integrated Photonic solutions for the Data Communications market. Upon completion of this transaction (“Closing”) which is subject to applicable regulatory reviews and approvals, including approval of the TSX Venture Exchange, POET will own 100% of BB Photonics and its assets, including intellectual property and technologies, and there will be no liabilities assumed on Closing.
BB Photonics, a pre-revenue, New Jersey-based privately held photonics company currently develops Photonic Integrated Components for the Datacenter market utilizing a Platform Technology approach using Embedded Dielectric Technology, that is intended to enable on-chip athermal wavelength control and lower the total solution cost of datacenter photonic integrated circuits.
This strategic acquisition of BB Photonics will provide POET with additional differentiated intellectual property and know how for future product development at its facilities in Singapore recently acquired through the DenseLight transaction. Collectively this will enable POET to better service the end to end Data Communications market and additionally augment its sensing roadmap.
"The acquisition of BB Photonics helps bolster our Intellectual Property and know how in Integrated Photonic solutions and enables broad applications through its unique performance and cost capabilities. It is anticipated that these factors will allow us to expand, accelerate and complement our current roadmap”, said Dr. Suresh Venkatesan, POET’s Chief Executive Officer. “This is another synergistic and timely acquisition for us as we focus on providing our existing and future customers a broader range of differentiated photonics technologies.”
“BB Photonics is excited to be part of POET Technologies and to enable athermal multi-wavelength photonic integration in high speed Indium Phosphide devices”, said Bill Ring, Chief Executive Officer of BB Photonics. “We look forward to working closely with POET and DenseLight to bring our differentiated IP to market and deliver meaningful shareholder value”.
About POET Technologies Inc.
POET (Planar Opto-Electronic Technology) is a developer of opto-electronics and Photonic fabrication processes and products. Photonics integration is fundamental to increasing functional scaling and lowering the cost of current Photonic solutions. POET believes that its advanced opto-electronics process platform enables substantial improvements in energy efficiency, component cost and size in the production of smart optical components, the engines driving applications ranging from data centers to consumer products to military applications.
Silicon Valley-based POET’s patented module-on-achip process, which integrates digital, high-speed analog and optical devices on the same chip, is designed to serve as an industry standard for smart optical components. More information about POET and its wholly owned subsidiary, DenseLight, may be obtained at www.poet-technologies.com.
