IOC ends takeover talks with unknown firm

IOC ends takeover talks with unknown firm
Richard Wilson
Optoelectronic component manufacturer Integrated Optical Components (IOC) has stopped talking with potential takeover partners for the business.
Last October, the Essex-based firm, which designs and manufactures 2.5Gbit/s and 10Gbit/s optical modulators, told Electronics Weekly that it was the takeover target of two large US companies. Although the company names were not confirmed possible candidates were thought to have included Uniphase and Anadigics.
The firm has given no reason for the change of plan except to say in a statement: “It would not be in the best interests of shareholders for the company to be acquired at this time and it confirms therefore that it has discontinued all discussions with third parties which might have resulted in an offer being made for the company.”
IOC has also named Caroline Bradley as new finance director, replacing John Meyrick, who resigned in February.

Leave a Reply

Your email address will not be published. Required fields are marked *