NeoPhotonics Corp. (NYSE: NPTN) has agreed to purchase assets from Emcore Corp. (Nasdaq: EMKR), a manufacturer of semiconductors and fiber-optic technology, as a means of expanding its product line.

The San Jose, California-based buyer, known for making photonic integrated circuit-based modules for high-speed communication networks, is set to spend $17.5 million on Emcore's tunable laser and transceiver product lines. The price tag includes $1.5 million in cash plus the balance in a promissory note. The transaction is expected to close in January.

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