EMCORE buys part of Intel
Shares of EMCORE Corp. (Nasdaq:EMKR) are rising on news before the opening that the maker of semiconductor-based components will buy technology relating to optical transceivers for enterprise and storage customers from Intel Corp. (Nasdaq:INTC). The Albuquerque, N.M.-based company will issue 3.7 million shares of restricted stock to finance the purchase, which will close in the second quarter of 2008.
At 3:46 p.m. ET, the stock had gained $0.17, or 2%, to $7.13. For detailed price information and recent news stories about EMCORE, click EMKR.
