StockerYale has bought the specialty optical fiber (SOF) group of CIENA‘s
in a cash and stock deal. The purchase price was not disclosed.
The acquisition will help StockerYale meet its goal of becoming “a key supplier of specialty optical fibers to the major telecommunication manufacturers around the
world,” said Mark W. Blodgett, chairman and CEO of the Salem, N.H., company.
Included purchase is intellectual property rights as well as manufacturing and test equipment from Linthicum, Md.-based CIENA.
In addition, the StockerYale will be the CIENA’s’ primary supplier of specialty optical fibers, for the next three years. Shipments are expected to being in the fourth
quarter and executives are hopeful that the pact will be extended.
“We are very excited about the potential for new business opportunities in the ensuing years as we develop a long-term business relationship,” said Paul
Jortberg, a StockerYale vice president.
StockerYale’s fiber and components are used in high-speed optical networks. Earlier this year, it introduced a new line of “diffraction grating.”. Primarily designed for
use in multiplexers, demultiplexers, optical spectrum analyzers, and tunable lasers, the gear enhances the performance of telecommunication devices.
Shares of STKR, rose 0.24, or 5 percent, to 5.02 on the news of the purchase and outsourcing agreement. Likewise, CIEN stock edged up 0.3, or 5 percent, to
6.74, at midday.