In IPOs, timing is everything.
But that's not to say CyOptics, which has its headquarters, manufacturing, and R&D in Breinigsville, missed out on raising $100 million. TA Associates, a Boston private-equity firm, reportedly injected that sum into CyOptics in 2012.
Also, business has been pretty good for CyOptics of late, with revenue more than tripling over the last three years to about $210 million in 2012, the companies said in a statement.
Avago, with U.S. headquarters in San Jose, Calif., is by far the bigger company, having reported $2.36 billion in net revenue for its most recent fiscal year. But venture-backed CyOptics has technologies and manufacturing abilities that Avago says will help it compete for business in the growing enterprise and data-center markets.
The deal will mean a payout for those venture-capital investors, led by Jerusalem Venture Partners and TA Associates. TL Ventures, of Wayne, was an early investor in CyOptics.
It's too soon to say what this transaction will mean for the several hundred employees of CyOptics, which has Bell Labs and Lucent DNA in its corporate genes.
In my April 1 column, the federal Small- Business Administration provided the incorrect date for its "speed-dating" event between lenders and small-business borrowers. It will be Tuesday at the Radisson Hotel Valley Forge.
Contact Mike Armstrong
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