Canadian firm buys local semicon player

Singapore

FOR up to S$19.75 million, Poet Technologies - a Toronto-listed developer of opto-electronics fabrication processes for the semiconductor industry - will acquire homegrown photonics company DenseLight Semiconductors.

The acquisition, to be made in shares and cash for all of DenseLight's shares and debt, is a move that the Economic Development Board (EDB) said would enhance Singapore's position in the growing global compound semiconductor industry.