Rusnano Invests $40M

Rusnano has invested $39.8 million in U.S. based NeoPhotonics, which designs and manufactures photonic integrated circuit, or PIC, based modules and subsystems for bandwidth-intensive, high-speed communications networks.

"According to the agreement, Rusnano purchased newly issued common shares of NeoPhotonics for $39.8 million in cash, which constitutes approximately 17 percent of the company's outstanding common stock after completion of the transaction," Rusnano said in a statement, Interfax reported.

NeoPhotonics and Rusnano have agreed to create design and production facilities in Russia to produce optical products based on photonic integrated circuits by July 2014. Rusnano's managing director Sergei Polikarpov joined NeoPhotonics' board of directors.

(MT)

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