COVEGA

About COVEGA

Covega Corporation emerged in March 2003 from the merger of two optical component manufacturers, CODEON Corp. and Quantum Photonics, a move intended to create a fresh start under a new entity. The company was established as a vertically integrated provider of high-performance optical devices and modules, leveraging the combined strengths of CODEON's Lithium Niobate (LiNbO3) modulation technology and Quantum Photonics' Indium Phosphide (InP) semiconductor technology. Robert Harvey, formerly CEO of CODEON, led the new company as CEO, with Dan Petrescu from Quantum Photonics serving as president. Immediately following its formation, Covega secured $17 million in Series A financing from a consortium of investors including New Enterprise Associates, Core Capital Partners, and Siemens Venture Capital, to fund operations and expansion. A subsequent Series A round in August 2006 raised an additional $10 million to scale manufacturing and accelerate product development.

The company's business focused on the design and production of proprietary optical components essential for high-speed communication networks. Its product portfolio included gain chips, semiconductor optical amplifiers (SOAs), superluminescent light-emitting diodes (SLEDs), Fabry-Perot lasers, and LiNbO3 modulators. Covega served a diverse client base across the telecommunications, data communications, cable television, military, medical, and industrial sectors. Revenue was generated through the direct sale of these components and by offering turnkey foundry services, which encompassed device design, modeling, wafer fabrication, and packaging for fab-less customers.

Covega's strategic trajectory involved multiple acquisitions. In February 2008, the company was acquired by Gemfire Corporation and became its wholly-owned subsidiary, functioning as Gemfire's active component division. This arrangement was short-lived, as financial pressures on Gemfire led to the sale of Covega's assets. In March 2009, Thorlabs Inc., a prominent photonics equipment manufacturer, acquired Covega, integrating its InP and LiNbO3 technologies and manufacturing capabilities. This final acquisition marked the end of Covega's operations as an independent entity, with its technological expertise and product lines absorbed into Thorlabs' broader portfolio.