Ottawa-based JDS Uniphase Corp. will sell its Cronos Integrated Microsystem Inc. micro-electro mechanical systems (MEMS) business to a company in France for US$8.5 million, according to a Reuters News Agency report on Friday.
JDS – a supplier of optical network modules and components – had originally purchased the Cronos MEMS business two years ago for $565 million. Its new deal is with MEMSCAP, a company based in France with North American headquarters in San Jose.
The company last week announced its fourth quarter annual results, and reported a loss of nearly $1 billion, predicting that sales would continue to decline.
The company’s technology is used for fibre-optic communications, and is deployed by system manufacturers for the telecommunications, cable television and data communications industries. The company blames downturns in the telecommunications market for its forecasted revenue decline.