POET Technologies sold DenseLight to China Prosper Group for $28m.

POET Technologies, a designer, developer and manufacturer of optoelectronic devices, sold its wholly-owned Singapore-based subsidiary DenseLight to a special purpose company recently organized by China Prosper Group for $28m. Following closing, DenseLight’s operation in Singapore is expected to be expanded, both to support the preferred supply and strategic cooperation agreements negotiated with POET as part of the Share Sale Agreement and to serve an expanded market presence in China. Future plans include the construction of a high-volume manufacturing plant in Suzhou, expansion of sales and marketing efforts in China and elsewhere, and a potential public listing for DL Shanghai in China.