Avago Technologies to Acquire CyOptics for $400 Million
Apr 11th 2013 11:40AM
Updated Apr 11th 2013 11:46AM
Analog component supplier Avago Technologies is acquiring CyOptics, a maker of optical chip and component technologies for the telecommunications industry, for $400 million in cash, the company announced today.
CyOptics had filed in 2011 to go public in an estimated $100 million IPO, but withdrew the plans in May 2012.
Avago says the purchase will bolster its fiber optics product portfolio in enterprise data center applications. In addition, the acquisition will help Avago establish a complementary optical components business. CyOptics has a large customer base of module and system OEMs, with 2012 revenue growing 21% to $210 million.
The transaction is expected to close in the fiscal third quarter.
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