POET Technologies (
TSX: V.PTK,
Forum) continued to build and diversify its IP portfolio when the company announced today that it had closed the previously announced acquisition of all the shares of BB Photonics, a private designer of integrated photonic solutions for the data communications market.
According to the
news release, the acquisition of BB Photonics, a pre-revenue New Jersey-based company, had no liabilities at closing.
BB Photonics develops photonic integrated components for the datacentre market using embedded dielectric technology that is intended to enable on-chip athermal control and lower the total solution cost of datacentre photonic integrated circuits.
POET CEO, Dr. Suresh Venkatesan, commented, “The addition of BB Photonics significantly enhances our integrated photonic solution set and advances our commercialization initiative. By internal development and acquisition, we are accelerating our drive from technology leadership to market entry in differentiated photonics.”
The release went on to note that the main focus of POET will continue to be the commercialization of the POET platform and process technology.
POET Technologies was in the news recently when
the Toronto-based company reported on its Investor Day Town Hall Meeting back in the middle of May.
Shares were up 2.33% to $0.88 per share.
Currently there are 200.41m outstanding shares with a market cap of $172.35 million.
FULL DISCLOSURE: POET Technologies is a Stockhouse Publishing client.