April 11 Chipmaker Avago Technologies Ltd
said it will buy optical chip and component maker
CyOptics Inc for about $400 million in cash.
CyOptics had filed for an IPO in August 2011 but withdrew
its plans in May 2012.
The Breinigsville, Pennsylvania-based company, which makes
indium phosphide-based lasers and photo-detectors, had net sales
of about $210 million last year.
CyOptics, whose components are used in optical transceivers,
transponders and line cards, counts Ciena Corp, Finisar
Corp, Huawei Technologies Co Ltd and Lockheed Martin
Corp as customers, according to its 2011 IPO filing.
Avago, which serves Huawei Technologies Co Ltd,
Samsung Electronics Co, HP Co and Cisco
Systems Inc, will fund the transaction with cash on
hand and expects to close the deal during its quarter ending
Avago's shares were up marginally in premarket trading on
Thursday, after closing at $35.38 on the Nasdaq on Wednesday.