RF chip manufacturer Sivers plans to spin off its photonics division and go public to participate in the AI craze
Swedish semiconductor company Sivers is considering splitting its photonics division into a special purpose acquisition company (SPAC) to capitalize on the wave of artificial intelligence (AI).
Sivers, which has a strong RF chip business, has signed a non binding letter of intent to merge its Sivers Photonics subsidiary with byNordic Acquisition and will go public in the United States.
This transaction will create an independent, publicly traded photonics company. However, many SPAC trades in the semiconductor industry have not been realized, and byNordic has had multiple frictions with US regulators in recent months and is currently waiting for the appeal result of its delisting from the Nasdaq Stock Exchange.
Sivers Photonics subsidiary is one of the world's leading suppliers of semiconductor photonics devices, with a particular focus on indium phosphide (InP) laser sources. In 2017, the company acquired CST Global located in Glasgow, Scotland. The department develops and manufactures customizable lasers aimed at meeting the needs of high growth AI infrastructure and sensing applications such as data centers, consumer healthcare, and automotive LiDAR. Previously, it considered establishing a joint venture for a photonics factory.
At present, about 80% of the company's net income comes from the United States. After the merger is completed, the company plans to establish its headquarters in Silicon Valley while its manufacturing business remains in the United Kingdom.
The Photon Student Company has developed a unique technology portfolio based on over 25 years of research and development. It has three issued patents and 16 pending patents in the United States, United Kingdom, Canada, and the World Intellectual Property Organization, and has 80 employees.
The demand for AI will drive power consumption reduction in data centers, and silicon photonics (SiPh) is seen as the key to reducing inter chip connection power consumption. Sivers Photonics has currently signed development contracts with several leading SiPh suppliers, such as Ayar Labs, to develop unique high-performance lasers, and is in talks with several leading AI companies, including ultra large scale enterprises.
Consumer grade biometric sensors using photon lasers also enable wearable healthcare products to be used for new applications ranging from tracking personal health status to monitoring human biometric recognition and instant care solutions. In the past few years, a client has signed a development contract worth over $18 million with Sivers Photonics to improve and optimize the laser for biometric sensors.
Although the market is still in its early stages of development, Sivers Photonics believes it has a competitive advantage in providing advanced photon biosensors for this growing market.
Sivers Semiconductor Chairman Bami Bastani said, "Given the enormous business opportunities of silicon photonics in AI infrastructure and the growing demand for photon biometric sensors, we believe that now is the best time to push this business unit as an independent entity into the US capital market and create opportunities for shareholders to participate in its future success
At the same time, we also hope to leverage the success of Sivers' wireless business unit and the demand for our leading millimeter wave beamformer solutions for satellite and 5G, which have gained widespread customer attention in these developing markets over the past few years. This will enable us to create a completely fabless and less capital intensive company that will continue to be listed under Sivers Semiconductor
This transaction will create an independent, publicly traded photonics company. However, many SPAC trades in the semiconductor industry have not been realized, and byNordic has had multiple frictions with US regulators in recent months and is currently waiting for the appeal result of its delisting from the Nasdaq Stock Exchange.
Sivers Photonics subsidiary is one of the world's leading suppliers of semiconductor photonics devices, with a particular focus on indium phosphide (InP) laser sources. In 2017, the company acquired CST Global located in Glasgow, Scotland. The department develops and manufactures customizable lasers aimed at meeting the needs of high growth AI infrastructure and sensing applications such as data centers, consumer healthcare, and automotive LiDAR. Previously, it considered establishing a joint venture for a photonics factory.
At present, about 80% of the company's net income comes from the United States. After the merger is completed, the company plans to establish its headquarters in Silicon Valley while its manufacturing business remains in the United Kingdom.
The Photon Student Company has developed a unique technology portfolio based on over 25 years of research and development. It has three issued patents and 16 pending patents in the United States, United Kingdom, Canada, and the World Intellectual Property Organization, and has 80 employees.
The demand for AI will drive power consumption reduction in data centers, and silicon photonics (SiPh) is seen as the key to reducing inter chip connection power consumption. Sivers Photonics has currently signed development contracts with several leading SiPh suppliers, such as Ayar Labs, to develop unique high-performance lasers, and is in talks with several leading AI companies, including ultra large scale enterprises.
Consumer grade biometric sensors using photon lasers also enable wearable healthcare products to be used for new applications ranging from tracking personal health status to monitoring human biometric recognition and instant care solutions. In the past few years, a client has signed a development contract worth over $18 million with Sivers Photonics to improve and optimize the laser for biometric sensors.
Although the market is still in its early stages of development, Sivers Photonics believes it has a competitive advantage in providing advanced photon biosensors for this growing market.
Sivers Semiconductor Chairman Bami Bastani said, "Given the enormous business opportunities of silicon photonics in AI infrastructure and the growing demand for photon biometric sensors, we believe that now is the best time to push this business unit as an independent entity into the US capital market and create opportunities for shareholders to participate in its future success
At the same time, we also hope to leverage the success of Sivers' wireless business unit and the demand for our leading millimeter wave beamformer solutions for satellite and 5G, which have gained widespread customer attention in these developing markets over the past few years. This will enable us to create a completely fabless and less capital intensive company that will continue to be listed under Sivers Semiconductor