Tech Stock Flirts With Multi-Year Highs, Announces Transformative Joint Venture

By: Tomas Ronolski - AllPennyStocks.com News

Thursday, October 22, 2020

With shares already trading near three-year highs, POET Technologies Inc. (TSX Venture:PTK) (OTCQX:POETF) has partnered up with China’s Xiamen Sanan Integrated Circuit Co. Ltd., a wholly owned subsidiary of Sanan Optoelectronics Co., Ltd. on a joint venture contract and have applied for the registration of Super Photonics Xiamen Co., Ltd. to offer a new generation of cost-effective, high-performance optical engines to transceiver module manufacturers, systems suppliers, data center operators and network providers globally.

Super Photonics will assemble, test, package and sell optical engines, a primary component of optical transceivers that transmit data between switches and servers in data centers and between data centers and metro areas. Modular pluggable transceivers represent a major portion of the capital spending for equipment by companies such as Google, Alibaba, Facebook, Tencent and others engaged in building hyperscale data centers.

This joint venture aims to disrupt the data center transceiver market with superior economics and scale. As mentioned off the top, Canadian listed shares of POET Technologies were already flirting with multi-year highs, and continue their accent today with a 5.36% gain in early-afternoon trading at $0.59 on the announcement.

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