Emcore to Buy Telecom Assets of Intels Optical Platform Unit

Emcore aquires the telecom-related portion of Intel's optical platform division for $85 million.

Dec 18 (Reuters)—Semiconductor products maker Emcore Corp said it would buy the telecom-related portion of Intel Corps 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)