Communications firm Macom Technology Solutions announces planned purchase of Cornell University spin-out BinOptics for $230m.

Cornell electronics spin-out BinOptics is set to sell to communications firm Macom Technology for $230m.

US-based BinOptics has raised $38.6m from nine investors since setting up in 2000, including Draper Fisher Jurvetson, ArrowPath Venture Partners, Rand Capital, Cayuga Venture Fund, FA Technology Ventures, Gefinor Capital, Enhanced Capital Partners, Advantage Capital Partners, and Onondaga Venture Capital Fund.

John Croteau, CEO at Macom, said: “This acquisition further extends Macom’s preeminent position in what we expect will be a strong secular growth driver…