POET and Sanan IC Sign Definitive Agreement to Form Joint Venture Company
October 22nd, 2020
JV Aims to Disrupt the Data Center Transceiver Market with Superior Economics and Scale
TORONTO, Ontario, and Xiamen, PRC, October 22, 2020 – POET Technologies Inc. (“POET” or the “Company”) (TSX Venture: PTK; OTCQX: POETF), and Xiamen Sanan Integrated Circuit Co. Ltd. (”Sanan IC”), a wholly owned subsidiary of Sanan Optoelectronics Co., Ltd. (Shanghai Stock Exchange, SSE: 600703) announced today that they have signed a definitive joint venture contract and have applied for the registration of Super Photonics Xiamen Co., Ltd.(“Super Photonics”) to offer a new generation of cost-effective, high-performance optical engines to transceiver module manufacturers, systems suppliers, data center operators and network providers globally.
POET and Sanan IC are forming Super Photonics with the signing today of the definitive joint venture agreements and the registration of the company in Xiamen, PRC. The venture has been capitalized with a commitment of cash and manufacturing know-how from Sanan IC and intellectual property and design know-how from POET. Super Photonics will assemble, test, package and sell optical engines, a primary component of optical transceivers that transmit data between switches and servers in data centers and between data centers and metro areas. Modular pluggable transceivers represent a major portion of the capital spending for equipment by companies such as Google, Alibaba, Facebook, Tencent and others engaged in building hyperscale data centers.
“Sanan IC is dedicating significant capital and management talent to this new joint venture,” said Raymond Cai, Chief Executive Officer of Sanan IC. “We strongly believe that by combining Sanan IC’s manufacturing capabilities and devices with POET’s advanced optical engine designs, Super Photonics will be able to offer highly attractive solutions to the data communications and telecommunications markets.”
“Super Photonics is both the culmination of a long path for POET and the beginning of a new phase in our growth and development as a company,” said Dr. Suresh Venkatesan, Chairman and Chief Executive Officer of POET Technologies, Inc. “We cannot overstate the importance of this moment and the depth of our commitment to making this joint venture a resounding success.”
Super Photonics intends to design, manufacture and sell products for a variety of applications, including optical engines for transceivers used in data centers and for the fiber-based segments of the 5G communications market, each among the highest growth segments of the data communications and telecommunications markets.
About Sanan IC
Xiamen Sanan Integrated Circuit Co., Ltd. (Sanan IC) is a leading compound semiconductor wafer foundry, serving the RF microelectronics, power electronics and optical markets worldwide. The company was founded in 2014 and is based in Xiamen City in the Fujian Province of China, operating as a subsidiary of Sanan Optoelectronics Co., Ltd. (Shanghai Stock Exchange: 600703). The company develops and provides GaAs, GaN, SiC, and InP foundry services with its state-of-the-art compound semiconductor fabrication facilities. Certified to the ISO9001 international quality standard, ISO14001 environmental management standard, and IATF 16949:2016 Automotive Quality Management System (QMS) standard, Sanan IC empowers the global community of RF, millimeter wave, filter, power electronics, and optical communications markets with its advanced process technology platform. Sanan IC is Dedicated to Driving Compound Semiconductor Innovation. For more information, visit www.sanan-ic.com.
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About POET Technologies Inc.
POET Technologies is a design and development company offering integration solutions based on the POET Optical Interposer™ a novel platform that allows the seamless integration of electronic and photonic devices into a single multi-chip module using advanced wafer-level semiconductor manufacturing techniques and packaging methods. POET’s Optical Interposer eliminates costly components and labor-intensive assembly, alignment, burn-in and testing methods employed in conventional photonics. The cost-efficient integration scheme and scalability of the POET Optical Interposer brings value to any device or system that integrates electronics and photonics, including some of the highest growth areas of computing, such as Artificial Intelligence (AI), the Internet of Things (IoT), autonomous vehicles and high-speed networking for cloud service providers and data centers. POET is headquartered in Toronto, with operations in Allentown, PA and Singapore. More information may be obtained at www.poet-technologies.com.
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