Agere to sell optical MEMS to TriQuint

Oct. 23, 2002 — Agere Systems is selling most of its optoelectronics business, including MEMS, to Oregon-based TriQuint Semiconductor Inc.

The sale includes the products, technology and some facilities related to the business, but not Agere’s components for cable television transmission systems. Agere seeks a buyer for that business, according to a news release.

About 300 Agere research and development process engineering, marketing, product management and assembly and test employees will join TriQuint. Closing is expected in early January, pending regulatory approval and other conditions.

For Agere’s fiscal year that ended in September, the business TriQuint is buying had revenue of about $192 million. TriQuint estimates it will have revenue between $50 million and $75 million in calendar year 2003, the release said.

Agere stock closed Tuesday at 91 cents a share, up from 89 cents Monday. TriQuint closed at $3.96, up from $3.90 Monday.

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