NeoPhotonics has acquired Lightwave Microsystems Corporation, a privately-held developer of standard and specialized integrated circuits for optical communications. Lightwave Microsystems, which is based in San Jose, California, offers a passive integration platform, recorded sales nearing $10 million in 2002. Financial terms were not disclosed. Neophotonics said its vision is to combine active functions, such as amplifiers and lasers, with passive functions, such as AWG filters, in a single device. The company also noted that many of Lightwave's employees have joined NeoPhotonics and its wafer fabrication and module-packaging facilities have continued production under combined company engineering management after a brief shutdown last fall.
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- In June 2002, NeoPhotonics Corporation completed a $35 million round of funding for its development of planar components for metro and access optical systems. The company is developing a mass production manufacturing processes that uses a “Laser Reactive Deposition�? technique and builds at the nanoscale to combine traditionally incompatible materials. Initial products will include substrates, planar amplifiers and splitters. Existing investors Bay Partners, Venrock Associates, Institutional Venture Partners, SBV Venture Partners, Nth Power Technologies, Hydro Quebec CapiTech, Sands Brothers, Groupe Siparex, XR Ventures, Dow Corning Corporation and existing debt financier Dominion Ventures were joined by new equity investors CDP Capital-Technology Ventures, Rockport Capital Partners, Small-Technology Venture Capital, and Linkmore Capital. In addition, GE Capital Technology Finance provides lease financing.
