Solectron has signed a definitive agreement to acquire Iphotonics, a leading provider of core optical manufacturing services
August 22, 2001
MILPITAS, Calif. -- Solectron Corporation (NYSE: SLR), the world's leading provider of electronics manufacturing and supply-chain management services, said today that it has signed a definitive agreement to acquire Iphotonics, Inc., a leading provider of core optical manufacturing services. The acquisition will significantly increase Solectron's optical services capabilities, and enhance its total systems-solutions offering. The companies expect to complete the transaction during the first quarter of fiscal year 2002 ending in Nov. 2001; financial terms were not disclosed.Under the agreement, Solectron will acquire Iphotonics' optical manufacturing services operations, including design, prototyping, full-scale manufacturing and testing for optical networking and optical subsystems companies. Privately held Iphotonics has a design, prototyping and manufacturing facility in Glen Burnie, Md., and an engineering and development center in Fremont, Calif. Iphotonics serves many of the leading optical OEMs and suppliers. Solectron Corp.
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