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APRIL 17, 2007 -- EMCORE Corp. (search for EMCORE), provider of compound semiconductor-based components and subsystems for the broadband, fiber-optic, satellite, and solar power markets, has acquired privately-held Opticomm Corp. (search for Opticomm) of San Diego, California, including its fiber-optic video, audio, and data networking business, technologies, and intellectual property.
The stock purchase transaction closed on Friday, April 13, 2007. EMCORE paid $4 million initial consideration for all of the shares of Opticomm. EMCORE also agreed to an additional earn-out payment based on Opticomm's 2007 revenues. EMCORE management anticipates that this transaction will provide approximately $7 million of revenue for calendar year 2007, and upon integration will be operationally profitable. In 2006, Opticomm generated profitable revenues of $6.3 million.
Founded in 1986, Opticomm is a specialist in the field of fiber-optic video, audio, and data networking for the commercial, governmental, and industrial sectors. Its flagship product is the Optiva Platform, a complete line of transmission systems built to address the primary optical communication requirements of the broadcast and media, security and surveillance, healthcare, traffic and rail, and government and military markets.
"We are very pleased to welcome Opticomm and its well-known Optiva line to the EMCORE family," contends Chris Larocca, vice president and general manager of EMCORE's Ortel division. "This represents a tremendous opportunity to increase EMCORE's presence in the rapidly expanding video transport market. "
Moreover, he adds, "This transaction enables EMCORE to integrate the complementary technologies added from the recent acquisition of Force Inc. into a single, high-density and modular platform. The combined product line uniquely positions EMCORE as a leading supplier of products to aggregate, process, and transport video signals to IP, HFC, FTTx, and wireless networks," says Larocca.
"We are excited to join EMCORE, where Opticomm's product line, technology, and worldwide market presence will both expand EMCORE's current video offerings, as well as benefit from the increased resources and experience available in the Ortel Division," notes David Caidar, president of Opticomm.
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