I checked again the audio transcript of the THM. There SV doesn't sound really excited about ANAD being acquired by II-VI: "This whole Anadigics to Wavetek move, it has set us back – we had to transition foundry as Anadigics got acquired, and we got into that." He is not talking about the bidding war, but about the acquisition.

At the same time, till today, the quick sequence of POET announcing the Epiworks agreement and just some days later II-VI buying Epiworks seems strange to me. I don't believe, that POET's management would sign a longterm agreement without knowing about the acquisition.

Another point that I do not understand is the question, who are POET's epitaxial wafer partners. We know of Epiworks, but in the NEWS in January, it is written: "POET reported that it is encouraged by the promising initial results of its wafers sourced from its epitaxial wafer partners processed in the Wavetek facility" www.marketwired.com/press-release/poet-partners-with-wavetek-cites-promising-initial-results-tsx-venture-ptk-2091548.htm. Probably it is Intelligent Epitaxy, but until today, there is not official news, that POET and Intelligent Epitaxy or another supplier partnered.