Combination of Pirelli's PGT Photonics and CyOptics supports development of a new generation of optical components. Pirelli to take an approximately 30% stake in CyOptic.
The agreement foresees integration between PGT Photonics, the Pirelli Group's photonics company, and CyOptics, a privately-held US company which is a leader in optical components based on Indium Phosphide technology.
The agreement combines the complementary technologies of CyOptics' excellence in Indium Phosphide based lasers and detectors, with PGT Photonics substantial and broad investment in silicon based photonics.
Together the two companies will aggressively address products such as wavelength tunable TOSAs, Photonic Integrated Circuits (PICs), and other components aimed at improving flexibility and reducing the cost of optoelectronic communications.
Following the transaction, Pirelli will maintain an approximately 30% share in the new business, which will have annual revenue of about 80 million dollars.