SOMERSET, N.J. -- EMCORE Corporation (Nasdaq: EMKR), a leading provider of semiconductor technologies for global communications, announced today that it has acquired certain assets of privately-held Alvesta Corporation of Sunnyvale, California. Alvesta Corporation is an industry leader in the research and development of parallel optic transceivers for fiber optic communication networks. Alvesta pioneered four channel parallel optic transceivers for the Optical Internetworking Forum, 10G Fibre Channel, 10 gigabit Ethernet and Infiniband applications. Alvesta's product revenues from sales of its four-channel products were approximately $5 million in 2001. Alvesta Corporation's technology will broaden EMCORE's existing 12-channel (15 to 40 Gbps) product line to include four-channel, 16-channel, and 24-channel duplex transceivers. EMCORE will continue to support the parallel optical products released by Alvesta, and immediately begin production of the four channel products in its state of the art Albuquerque facility. These parallel optical modules offer the advantages of high optical port density and low power consumption which are required by the next generation optical networking applications. EMCORE now possesses Alvesta's inventory of four channel transceivers and can immediately ship Quadlink(TM) MSA compliant parts to customers. "We have followed Alvesta's progress and products for some time. The company has consistently been a leader in the development of four-channel parallel optic technology and applications. We believe that their product technology is a perfect complement to our line of twelve channel parallel optic transceivers and transponders. The acquisition of Alvesta gives us the opportunity to expand our product portfolio to include 4X optics, MSA compliant pluggable transponders and key product technology. We plan to provide these solutions to our existing customers and Alvesta's former customers," said Dr. Hong Hou, Vice President of EMCORE's fiberoptic divisions. "Furthermore we are pleased to have added some very talented people whom we believe will make a significant contribution to EMCORE's success in the future." "We are impressed with Emcore's commitment to the parallel optics market, adding to an already strong technical team and supporting high-volume manufacturing. Emcore and Alvesta customers will be able to benefit from the expanded product portfolio and excellent customer support that has become a hallmark of the team," said Dr. Al Yuen, Director of Emcore Silicon Valley and founder of Alvesta Corporation. Financial terms of the acquisition were not disclosed. The purchase price includes the acquisition of intellectual property and inventory. In addition, EMCORE has hired Alvesta's key design team. The transaction was completed on December 11, 2002. Emcore Corp.