StockerYale Acquires Spectrode, LLC
Thursday October 18, 4:30 pm ET
SALEM, N.H.--(BUSINESS WIRE)--StockerYale, Inc. (NASDAQ: STKR - News), a leading designer and manufacturer of structured light lasers, LED modules and specialty optical fibers for industry leading OEMs, today announced the acquisition of the assets and intellectual property of Spectrode LLC, a developer of pulsed Thulium Doped Fiber Laser Technology.
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Under the terms of the transaction, all of Spectrode’s patents and patents pending will be assigned to StockerYale, including the “Gain Switched Fiber Laser System.” Continued development of the fiber laser will be led by Dr. Min Jiang on behalf of StockerYale in support of future defense related applications. Other terms of the acquisition were not disclosed.
Spectrode LLC is a spinoff of AZNA LLC, a provider of chirp managed directly modulated lasers. AZNA was founded in 2002 by optics and laser expert Dr. Parviz Tayebati and later sold to Finisar in 2007. Dr. Tayebati was formerly the founder and CEO of CoreTek, until it was acquired by Nortel Networks in March 2000 for $1.4 billion. Dr. Tayebati will assume a seat on StockerYale’s Board of Directors subject to approval by the Board’s Compensation, Nominating and Governance Committee.
“Spectrode’s fiber laser technology will enhance strategic initiatives in both our specialty optical fiber and laser business units,” said Mark W. Blodgett, Chairman and Chief Executive Officer of StockerYale. “We are also extremely pleased to welcome Dr. Tayebati to our Board where his technical and scientific expertise will be a valued asset.”
Dr. Parviz Tayebati stated, “I am looking forward to joining StockerYale’s Board. The Company has interesting laser, fiber and LED technologies and I am eager to contribute to the continuing growth of the business.“
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