Avago Technologies said Thursday it is buying CyOptics - an Israeli company that picked up and moved to Pennsylvania years ago - for $400 million.
- CyOptics raises $10 million
- CyOptics sets up optical chip plant in Yokneam
- The Israeli startup that ran away from home
A maker of optical communications chips and components, CyOptics retained an Israeli connection through the venture capital fund Jerusalem Venture Partners, which owns 50 percent.
CyOptics was established in 1999 by JVP and Semi-Conductor Devices, a joint venture between Elbit Systems and state-owned Rafael Advanced Defense Systems.
After selling its plant in Yokneam to Vishay Intertechnology for $10 million, CyOptics relocated to Pennsylvania where it now employs 900 people.
Sales of its technology that enables cable networks to transmit files at the rapid rate of 100 gigabytes a second amounted to $210 million last year.
Throughout the years over $180 million was invested in the company. Boston's TA Associates holds over 35% of CyOptics and employees own the rest.
Between 2003 and 2009 CyOptics took over five companies, starting with Cenix and including the electro-electronics operations of TriQuint Semiconductors and the optical division of Lucent Technologies and Bell Labs in 2005, and Apogee Photonics and InPlane Photonics in 2007.