DenseLight to Expand in Singapore and China Following Ownership Transfer

Photonics integration technology company DenseLight Semiconductors Technology Co. Ltd. has become an independent organization following its divestment by POET Technologies Inc. for a total consideration of $26 million.

This news comes three years after DenseLight’s acquisition by POET, during which DenseLight expanded its market presence in China and the U.S. The company recorded a year-on-year revenue growth of 29% in 2017 and 39% in 2018 and reported that it is on track to surpass that growth in 2019.

DenseLight Semiconductors’ headquarters in Singapore. Courtesy of DenseLight.

Commenting on the transaction, DenseLight’s president and CEO, Rajan Rajgopal, said his company has been working hard over the past 20 years to realize its vision of becoming a global leader in integrated photonics solutions. “The support of our new shareholders brings us another step closer to realizing this vision,” Rajgopal said.

As part of the terms of the transaction, DenseLight and POET will enter into a preferred supply and strategic cooperation agreement, which will see the two companies maintaining an ongoing relationship. DenseLight’s management will remain unchanged, which the company hopes will place it in a position to continue working with existing customers while acquiring new ones.

Following the transfer of ownership, DenseLight plans to upgrade and expand its Singapore facility, construct a new assembly and testing facility, and then construct a high-volume wafer fabrication plant in China. The company will also be scaling up sales and marketing efforts across the board, including in Singapore, China, and the U.S.