VC-backed TeraXion to sell photonics assets to Ciena for $47 mln
TeraXion has agreed to sell its high-speed photonics components assets to U.S.-based network specialist Ciena Corp (NYSE: CIEN) for about $46.6 million in cash. Ciena said the acquisition will advance its market role in high-speed optics and enhance its ability to develop differentiated solutions. Following the deal, TeraXion said it will continue to operate its fibre-optic communication, fibre lasers and optical sensing applications business from its headquarters in Québec City. Founded in 2000, TeraXion raised funding from a number of Canadian venture capital firms. It continues to be backed by several investors, including the Fonds de solidarité FTQ.
19 January 2016•3 mins read
