Finisar will acquire Genoa, a start-up specializing in integrated optoelectronic components, for approximately seven million shares of Finisar common stock. The closing price of Finisar's Common Stock on 31-Mar-03 was $0.78 per share, giving the transaction an aggregate value of approximately $5.5 million. Genoa developed a line of linear semiconductor optical amplifiers (LSOAs) for amplifying DWDM wavelengths. As a byproduct of that technology, Genoa also developed a unique approach for making long wavelength vertical cavity emitting lasers (VCSELs). Genoa is based in Fremont, California.
http://www.finisar.com
http://www.genoa.com
- Genoa was founded by Sol DiJaili and Jeff Walker, both of whom previously developed optoelectronic devices at Lawrence Livermore National Laboratory. Genoa raised $95 million in funding. Investors include August Capital, Bessemer Venture Partners, Global Crossing Ltd, Investor Growth Capital, Levensohn Capital, Meritech Capital Partners, Oak Investment Partners, and WorldCom Ventures.
In June 2002, Genoa announced a major restructuring of its business.
In March 2003, Genoa announced that NEC had integrated its second-generation, single-chip linear optical amplifier (LOA) into a 10 Gbps optical transponder module for long reach applications of up to 80 km. The transponder offers 20% less power consumption, 50% smaller size, and a significant cost reduction. Genoa's amplifier, which on its sub-mount is comparable in size to a grain of rice, also features a doubling in output power over first generation LOAs.
