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Be the first with the news that moves the market- POET Technologies (PTK) has signed a joint venture contract with Sanan Optoelectronics subsidiary, Xiamen Sanan Integrated Circuit
- The definitive agreement is for the formation of a joint venture company, Super Photonics, which they have applied to register
- Super Photonics will design, manufacture and sell optical engines, a key component for data communications and telecommunications
- The collaboration will combine Sanan IC’s manufacturing capabilities with POET Technologies’ optical engine designs
- POET Technologies (PTK) is up 7.14 per cent, and is currently trading for $0.60 per share
POET Technologies (PTK) has signed a joint venture contract with Sanan Optoelectronics subsidiary, Xiamen Sanan Integrated Circuit.
The contract represents a definitive agreement to form a joint venture company called Super Photonics Xiamen. The two companies have already applied for the registration of the newly formed Super Photonics in Xiamen, China.
The JV company has been capitalised with a commitment of cash and manufacturing knowledge from Sanan IC, and intellectual property and design experience from POET Technologies. Specifically, the collaboration will combine Sanan IC’s manufacturing capabilities with POET Technologies’ optical engine designs.
Optical engines are a key component of optical transceivers, which transmit data between switches and servers in data centres, and between data centres and metro areas. Major companies such as Google, Alibaba, Facebook, Tencent and others spend a large portion of equipment capital spending on modular pluggable transceivers.
Super Photonics will design, manufacture, and sell optical engines to transceiver module manufacturers, systems suppliers, data centre operators, and network providers. In particular, the JV company’s products will have applications in fibre-based segments of the 5G communications market.
POET Technologies’ Chairman and CEO, Dr Suresh Venkatesan, commented on the significance of the company’s newly formed joint venture with Sanan IC.
“Super Photonics is both the culmination of a long path for POET and the beginning of a new phase in our growth and development as a company.
“We cannot overstate the importance of this moment and the depth of our commitment to making this joint venture a resounding success,” he said.
POET Technologies (PTK) is up 7.14 per cent, trading for $0.60 per share as of 11:20am EDT.
