Emcore to buy telecom assets of Intel's optical platform unit
Dec 18 (Reuters) - Semiconductor products maker Emcore Corp (EMKR.O: Cotización) said it would buy the telecom-related portion of Intel Corp's (INTC.O: Cotización) optical platform division for $85 million to expand its fibre optics product portfolio.
The acquired assets are expected to generate $65 million of revenue in 2008, the company said in a statement.
The acquisition is expected to close in the first quarter of 2008, the company added. (Reporting by Shamik Paul in Bangalore; Editing by Deepak Kannan)
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