EMCORE Corporation Acquires Phasebridge, Inc.11 November 2005
EMCORE Corporation (Nasdaq: EMKR), a leading provider of compound semiconductor-based components and subsystems for the broadband, fiber optic, satellite, and wireless communications markets, today announced that it has acquired privately-held Phasebridge, Inc. of Pasadena, CA, including its specialty products, technologies, and business, through an asset acquisition that closed on November 8, 2005. Financial terms of the acquisition were not disclosed. The Phasebridge operations will be integrated over the next several weeks into the Ortel division of EMCORE, which is located nearby in Alhambra, CA, and the core group of Phasebridge's technical and engineering staff has joined EMCORE. EMCORE management anticipates that this transaction will increase its projected fiscal 2006 revenues by approximately $2 million. Founded in 2000, Phasebridge is known as an innovative provider of high performance, high value, miniaturized multi-chip system-in-package optical modules and subsystem solutions for a wide variety of markets, including fiber optic gyroscopes (FOG) for weapons & aerospace guidance, radio frequency (RF) over fiber links for device remoting and optical networks, and emerging technologies such as optical RF frequency synthesis and processing and terahertz spectroscopy. "We have been very impressed by the innovative technical and packaging solutions invented and provided by Phasebridge. Together with the technology and product portfolio of Ortel and the recently-acquired JDSU Specialty business, Ortel will be able to offer a broad set of component and subsystem solutions in the FOG, RF, microwave, and terahertz product markets for a wide range of applications," said Dr. Hong Hou, Vice President and General Manager of EMCORE's Ortel division. "We are very excited to join EMCORE and to continue our pursuit of innovative technology solutions for our customers. Leveraging EMCORE's broader markets and manufacturing infrastructure, our customers will be able to benefit from an expanded product portfolio while continuing to receive the outstanding service and quality that has become a hallmark of the Phasebridge team," said Dr. Ronald Logan, Jr., founder of Phasebridge and now the Chief Engineer and Managing Director of Specialty Business for EMCORE's Ortel division. About EMCORE EMCORE Corporation offers a broad portfolio of compound semiconductor-based components and subsystems for the broadband, fiber optic, satellite, and wireless communications markets. EMCORE has three operating segments: Fiber Optics, Photovoltaics, and Electronic Materials and Devices. The company's integrated solutions philosophy embodies state-of-the-art technology, material science expertise, and a shared vision of our customer's goals and objectives to be leaders in the transport of voice, data, and video over copper, hybrid fiber/coax (HFC), fiber, satellite, and wireless networks. EMCORE's solutions include: optical components and subsystems for fiber-to-the-premise, cable television, and high speed data and telecommunications networks; solar cells, solar panels, and fiber optic ground station links for global satellite communications; and electronic materials for high bandwidth wireless communications systems, such as Wi-Fi Internet access and cell phones. Through its joint venture participation in GELcore, LLC, EMCORE plays a vital role in developing and commercializing next-generation high-brightness LED technology for use in the general and specialty illumination markets. For further information about EMCORE, visit http://www.emcore.com. Disclaimer The information provided herein may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 relating to future events that involve risks and uncertainties. Words such as "expects," "anticipates," "intends," "plans," "believes," and "estimates," and variations of these words and similar expressions, identify these forward-looking statements. Actual operating results may differ materially from such forward-looking statements and are subject to certain risks, including risks arising from: difficulties encountered in integrating Phasebridge's business and operations, the benefits expected to be received by EMCORE and its customers from the acquisition; cancellations, rescheduling or delays in product shipments; manufacturing capacity constraints; lengthy sales and qualification cycles; difficulties in the production process; changes in semiconductor industry growth; increased competition; delays in developing and commercializing new products; and other factors described in EMCORE's filings with the Securities and Exchange Commission. The forward-looking statements contained in this news release are made as of the date hereof, and EMCORE does not assume any obligation to update the reasons why actual results could differ materially from those projected in the forward-looking statements.
Source: PR Newswire
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