Alcatel Optronics will acquire Kymata Ltd. for $117.2 million in stock, it reports. The purchase gives Alcatel access to Kymata's planar technology for high-end passive optical components and saves it two years in time-to-market for its planar products.
"Their high-end passive components complement our own high-end active component portfolio," says Alcatel Optronics CEO Jean-Christophe Giroux in a statement. Giroux also noted he was pleased "to have been able to use our stock as an acquisition currency in today's volatile market environment."
Optronics' parent, Alcatel, has undergone numerous cost-cutting strategies recently, including layoffs and plant closures worldwide.
Under the deal, Alcatel will exchange 9 million Alcatel Class O shares and 2.2 million Alcatel Class A shares for all outstanding Kymata shares. The deal should close by the end of August.