The management of Sivers Semiconductors AB (publ), a Swedish developer of technologies in the field of photonics and wireless communications, has decided to suspend negotiations with byNordic Acquisition Corp. regarding the business combination with a subsidiary of Sivers Photonics Ltd. This is reported in the Sivers press release.
The decision was made after a thorough assessment, taking into account the opinion of Sivers financial advisors and market conditions in the United States for small-cap companies.
In August 2024, Sivers Semiconductors entered into negotiations with byNordic Corp. to create a public company in the photonics sector with a significant amount of monetary resources after the completion of the separation of Sivers Photonics from Sivers Semiconductors.
Previously, Sivers Semiconductors AB (publ) entered into a partnership agreement with Linux International for the development of laser technologies.
Sivers Photonics holds three granted patents and 16 pending patents in the USA, UK and Canada. In addition, the company has signed contracts for the development of unique lasers for Ayar Labs and is negotiating with several large companies in the field of artificial intelligence.
Sivers Semiconductors AB is a Swedish developer of photonics and wireless communications solutions, including high—precision laser and RF beam generation technologies for AI data centers, satellite communications and telecommunications. The company manufactures and sells chips, components, modules and subsystems in North America, Europe and Asia based on semiconductor technologies for 5G millimeter wave networks and for wireless optical networks and sensors. The headquarters is located in Kist (Sweden).
Nordic Acquisition Corp. — a Swedish specialized company for targeted mergers and acquisitions.
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