NETPark-based telecoms firm aXenic has acquired Finisar UK Ltd, part of the Finisar Corporation.
aXenic’s products covers semiconductor modulator design, optical and high speed test and optical packaging. Its technology was originally developed as part of the semiconductor business within Filtronic, which was acquired by u2t Photonics in 2009. Last year u2t was acquired by Finisar Corporation.
aXenic, whose shareholders include the management and employees of Finisar UK, plans to address wider markets than the telecom business which was the focus of its activity as part of Finisar.
The experience and capabilities of the business go back over 20 years with background in product offerings in both telecom and analogue markets, and delivery of both GaAs and Indium Phosphide-based products.
Steve Clements, CEO, aXenic, said: “We are really excited about the prospects of the new operating business with the opportunity to broaden our market access and interests for the developing business in highest speed and high bandwidth modulator products.
“We look forward to engaging with our customers in this area to offer high performance yet cost effective functions in a growing business.”
Simon Goon, Managing Director of Business Durham, the economic development company for County Durham, said: “aXenic is a valued NETPark tenant and we’re delighted that the acquisition will see them broaden its markets and continue to thrive. We look forward to seeing this dynamic company fulfill its ambitions over the next few years.”