By sending emails to prospective buyers, Sharp is arranging OFC meetings to discuss selling certain pieces of Agere Systems' (NYSE: AGR/A) optoelectronics business, most of which TriQuint bought in a deal announced Oct. 22 and closed Jan. 2 (see TriQuint to Acquire Agere's Optics and TriQuint Closes Agere Acquisition).
Sharp is hawking Agere's passives businesses -- specifically, lithium niobate (LiNO3) modulators, silica waveguides, and Erbium Doped-Fiber Amplifiers (EDFAs).
The e-solicitation, forwarded to Light Reading by one of its recipients, was as follows:
I am planning to attend OFC in Atlanta on Tuesday-Thursday, March 25-27. I am trying to meet with those interested in purchasing any of the following businesses:
- LiNO3 Modulators
- Silica Waveguide
Chairman of Board
A panic move? No, just part of the plan, Sharp says. "We're just streamlining the group. These products aren't what we bought the group for."
It's the active components -- lasers and detectors -- that TriQuint wanted, particularly since the company is expert at compound semiconductor manufacturing. Agere's indium phosphide (InP) technology is a "natural extension" of TriQuint's gallium arsenide (GaAs) operations, Sharp says.
For 2003, TriQuint executives expect the Agere unit to contribute $50 million to $70 million in sales. It's going to start slowly, however, with just $7 million to $9 million in revenues this quarter, TriQuint executives told analysts in February's earnings call.
TriQuint bought most of Agere's optoelectronics division for $40 million in cash, bringing 300 Agere employees along for the ride.
— Craig Matsumoto, Senior Editor, Light Reading
For up-to-date information about the coming OFC Conference, please visit Light Reading’s Unauthorized OFC Preview Site