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Alcatel Optronics buys Kymata for $117.2 M in stock

Sun, 07/29/2001 - 8:00pm
Anne Kerven

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.

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