SUNNYVALE, Calif. -- Finisar Corporation (Nasdaq:FNSR - news), a technology leader in gigabit fiber optic solutions for high-speed data networks, today announced that it has acquired the assets of AIFOtec, GmbH, located in Munich, Germany, for approximately $2.3 million. AIFOtec was established in June 2000 to develop optical subsystems for telecom applications using a unique process for the assembly and testing of optical modules. The purchase price includes the acquisition of capital equipment, inventory and intellectual property. In addition, Finisar has agreed to hire approximately 30 former AIFOtec employees. The transaction was completed on February 1, 2002.
At the same time, Finisar announced that it would use the acquisition as an opportunity to strengthen its sales and marketing presence in Europe for its optical components and subsystems. The new company will be known as Finisar Europe, GmbH.
"We believe that the technologies and processes developed for telecom applications at AIFOtec can be readily applied to products for datacom and metro access applications," said Jerry Rawls, Finisar's President and CEO. "Furthermore, we are adding some very talented people whom we believe will have a large impact on our optical subsystem business. Aifotec will enable us to produce optical products with higher levels of performance and lower manufacturing costs."