POET - Beijing FeiYunYi Technology to buy custom optical engines worth $1M from POET Technologies

• Discrete and integrated opto-electronic solutions in Canada, POET Technologies ( NASDAQ: POET ) to design optical engines for Beijing FeiYunYi Technology or BFYY for deployment in optical modules in the telecom market globally, beginning in China.
• The agreement, valued at up to $1M over a two-year period, includes NRE for POET and an initial purchase order for 10,000 units that will be used to sample customers.
• BFYY was recently formed for the purpose of selling modules using POET-designed optical engines sourced from POET’s jJV company, Super Photonics Xiamen.
• “Top tier service providers in China believe that transceivers with POET’s Optical Interposer technology can provide a cost effective and scalable solution to achieve their network automation goals. BFYY plans to utilize its transceiver design and manufacturing capabilities along with the benefits of POET’s integration platform to quickly ramp to high volume production.” said Wei Zhang, CEO of BFYY.
• The company bags a Strong Buy rating from Wall Street analyst , despite a 33% fall in price over the last one year.

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