Additionally, POET has entered an equipment purchase agreement with Sanan to acquire production equipment previously leased to SPX for US$3.8 million, payable in four installments. The acquisition supports POET's "China Plus One" strategy, allowing full control over operations and financial consolidation with SPX. POET's Optical Interposer platform offers cost-effective, scalable solutions for AI systems and data centers, addressing integration challenges in 5G networks and other applications. The transactions are subject to final approval from the TSX Venture Exchange.
Key takeaways:
- POET Technologies Inc. has completed the acquisition of Super Photonics Integrated Circuit Xiamen Co., Ltd., securing 100% ownership.
- The acquisition supports POET's strategy to meet global demand for high-speed optical engines for AI networks.
- The acquisition includes an equity transfer agreement with Sanan for US$6.5 million over five years, with an option to convert payments into common shares.
- POET has also entered into an equipment purchase agreement with Sanan for US$3.8 million, payable in four installments.