POET Technologies Details Supply Agreement With European Optical Supply Sytems Company; Stock Gains 4%

2020-09-09 10:51:24 AM ET (MT Newswires)

10:51 AM EDT, 09/09/2020 (MT Newswires) -- POET Technologies (PTK.V) a developer of integrated circuits, is trading 4% higher on last look, Wednesday, said it signed a development and supply agreement with a European optical system company.

POET said the contract includes a nominal amount of NRE (non-recurring engineering) funding to "design optical engines based on the POET Optical Interposer for a 400G application."

According to POET, there is significant demand that is driving investments in the global internet infrastructure space and it expects 400G to be the next-gen of optical interconnect solutions for data communications.

Price: 0.53, Change: +0.02, Percent Change: +3.92