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Intel Shifts Optical Storage Biz to Emcore

Intel carved off more of its optical assets today, announcing a deal to sell the enterprise and storage elements of its optical platform division, as well as its connects cables business, to semiconductor specialist Emcore.

Emcore will issue 3.7 million shares of restricted stock for the acquisition, with certain adjustments based on the stock price 12 months after the transaction closes.

Last night, Emcore stocks closed at $6.96.

In a statement released this morning, Emcore described the deal as a way to boost its presence in the 10 Gbit/s Ethernet and SAN transceiver markets.

This acquisition will provide additional manufacturing efficiencies through economies of scale and vertical integration, benefiting our enterprise, storage, telecom, cable and high-performance computing customers,” said Reuben Richards, the Emcore executive chairman.”

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