July 16, 2004 – EMCORE Corp., a provider of semiconductor technologies for global communications, has acquired Corona Optical Systems, Lombard, IL, and Eau Claire, WI in a cash for stock merger.
Corona Optical Systems makes parallel optics with an ultra small form factor transceiver, which is currently being deployed by Tier 1 customers for use in high-density telecom switching boxes.
Per the terms of the transaction, EMCORE acquired Corona’s business including, its product lines, intellectual property, manufacturing technology and all physical assets for a cash payment of $1.2 million.
In the last twelve months before closing, Corona had revenues of approximately $2.9 million. Approximately 13 employees of Corona Optical Systems will join EMCORE. EMCORE expects that sales of Corona’s OptoCube transceiver will exceed $4 million in the next twelve months.