NeoPhotonics merges with Photon Technology

July 7, 2005 — NeoPhotonics Corp. of San Jose, Calif., announced on Wednesday it has merged with Photon Technology Co. Ltd. of Shenzhen, China.

The combined company, named NeoPhotonics, will develop and manufacture integrated optical modules and subsystems designed to improve the performance and lower the costs of optical networks. The merger brings together NeoPhotonics’ passive planar lightwave circuit technology with Photon’s high volume laser and transceiver manufacturing.

After the merger, the company claims, it expects revenues to exceed $50 million in 2005, with more than 1,200 employees in China and the U.S. and more than 100 customers, according to a press release issued on Wednesday.

“This is an exciting time for us and our customers,” said Tim Jenks, chairman and chief executive, in a prepared statement. “We combine leading edge products and engineering prowess with high volume and low cost manufacturing and assembly capability.”

The company will establish its headquarters in San Jose and will maintain its principal manufacturing facilities in Shenzhen, with research and development facilities there as well as in San Jose and Beijing.

Along with the appointment of Jenks as chief executive, the company also named Zhangyong Huang president of the company’s China operations and vice chairman of the board. He was previously president and CEO of Photon Technology. Robert Peng and Steve Xu have also joined the board, succeeding directors Ken Westrick and Maurice Gunderson.

A statement issued Wednesday by nanotech investment firm Harris & Harris Group Inc. noted it had invested an additional $1 million in NeoPhotonics, bringing its total investment to slightly more than $3 million.

-David Forman


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