POET Technologies (POET) announced its intention to expand its optical engine production capacity in Malaysia. The Company also announced that it has signed a binding Memorandum of Understanding, MOU, with Quanzhou Sanan Optical Communication Technology, SAIC, to transfer to POET its 24.8% stake in the joint venture Super Photonics Xiamen, along with all the production equipment previously leased by SAIC to SPX. With control of SPX, POET now has the flexibility to implement its “China Plus One” strategy to locate its wafer-scale assembly operations outside of China.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on POET:
- POET Technologies to Focus on Nasdaq Listing
- Poet Technologies price target raised to $5.50 from $3.50 at Craig-Hallum
- Largest borrow rate increases among liquid names
- Poet Technologies intends to voluntarily delist from TSXV
- Poet Technologies initiated with an Outperform at Northland on unique technology