Semiconductor connectivity firm Credo Technology Group completed the acquisition of DustPhotonics in a $1.3 billion cash-and-stock transaction, with $750 million paid in cash and $123 million in shares upfront. The deal includes an earn-out clause allowing Credo to issue up to an additional 3.21 million shares (valued at ~$430 million) if DustPhotonics meets specific financial milestones. Founded in 2017 and headquartered in Israel, DustPhotonics specializes in silicon photonics solutions for data centers, enterprise networks, AI, and high-performance computing (HPC) applications. Credo estimates the combined portfolio—including optical transceivers, digital signal processors, and silicon photonics products—will generate over $500 million in revenue by fiscal 2027.