POET secures 100% ownership of Super Photonics Integrated Circuit Xiamen

POET Technologies has completed its previously-announced acquisition of control of Super Photonics Integrated Circuit Xiamen Co., Ltd. (SPX) The Company has acquired all of the outstanding minority equity interests of SPX not already owned by the Company from SAIC, thus securing the Company's 100% ownership of SPX . The SPX operation complements the Company’s recently announced agreements with Globetronics Manufacturing Sdn. Bhd (“GMSB”), to manufacture optical engines for POET in Penang, Malaysia. The combined production capacity of the two assembly and test operations will exceed one million optical engines per year, all dedicated to the 800G and higher speed transceivers required for AI clusters. POET intends to continue the assembly of optical engines at SPX within the cleanrooms leased from SAIC until such time as the Company decides on another location for the operation. POET also intends to change the company name to identify it as a subsidiary of POET and may eventually merge operations with its existing wholly owned foreign enterprise ("WOFE"), POET Optoelectronics Shenzhen Co. Ltd. "We are pleased to have concluded the acquisition of the equity held by Sanan and the equipment formerly leased to SPX by Sanan on favorable terms," commented Dr. Suresh Venkatesan, Chairman & Chief Executive Officer of POET. "We can now present one face to our customers in China, ...