Credo Completes Acquisition of DustPhotonics

Expands Optical Connectivity Portfolio to Include Silicon Photonics Photonic Integrated Circuits

SAN JOSE, Calif.--(BUSINESS WIRE)--Credo Technology Group Holding Ltd (Credo) (NASDAQ: CRDO), an innovator in providing connectivity at scale through fast, reliable, and energy-efficient system solutions, today announced that it has completed its acquisition of DustPhotonics. DustPhotonics brings industry-leading silicon photonics photonic integrated circuit (SiPho PIC) technology for optical connectivity, deepening Credo’s optical interconnect portfolio across 800G, 1.6T, and 3.2T near-packaged optics (NPO) and co-packaged optics (CPO). With this technology, Credo is now positioned with a vertically integrated connectivity stack spanning SerDes, digital signal processing (DSP), silicon photonics, and system integration for scale-out and scale-up networks — addressing both electrical and optical interconnects across the full AI infrastructure buildout.

With the addition of DustPhotonics, the company expects its combined portfolio of ZeroFlap optical transceivers, optical DSPs, and silicon photonics products to become a significant growth driver in fiscal 2027, reflecting strong customer traction and expanding adoption across hyperscale AI deployments.

“I am thrilled to officially welcome the talented team from DustPhotonics to Credo,” said Bill Brennan, President and CEO, Credo. “Today marks an important milestone as we join two deeply skilled organizations united by a shared commitment to innovation, execution, and customer impact. Together, we will continue to advance a powerful, end-to-end optical connectivity solution platform with reliability and power efficiency at its core, helping our customers scale AI infrastructure.”

“Today we celebrate that DustPhotonics is now a part of Credo,” said Ronnen Lovinger, Vice President, Silicon Photonics, Credo. “I am extremely proud of the silicon photonics advancements we pioneered as a team, and am excited to work alongside our new colleagues to accelerate our vision for optical interconnect. Silicon photonics will increasingly become the foundational technology for AI-driven optical connectivity—enabling the bandwidth, efficiency, and scale that next-generation infrastructure demands.”

About Credo

Credo’s mission is to transform connectivity at scale through fast, reliable, and energy-efficient system solutions. Our high-speed copper and optical interconnect products deliver industry-leading power and performance at up to 1.6T to meet the ever-expanding data infrastructure demands of AI.

Our product portfolio includes ZeroFlap (ZF) Active Electrical Cables (AECs) and ZF optical transceivers, OmniConnect memory solutions, and a suite of retimers and DSPs for optical and copper Ethernet and PCIe, all leveraging the PILOT diagnostic and analytics software platform. Credo innovations enable our customers to connect the systems that connect the world.

For more information, please visit https://www.credosemi.com. Follow Credo on LinkedIn.

Credo, the Credo logo and the color purple when associated with AECs are registered trademarks of Credo Technology Group Limited in the United States and other jurisdictions. All other trademarks referenced herein are the property of their respective owners.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact could be deemed forward-looking statements, including, but not limited to, any statements regarding launches of new or expansion of existing products or services; technology developments and innovation; our plans, strategies or objectives with respect to future operations; financial outlook; future financial results; expectations regarding the markets and industries in which Credo conducts business; and assumptions underlying any of the foregoing. Words such as “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “seeks,” “estimates,” “can,” “may,” “will,” “would,” “outlook,” “forecast,” “targets” and similar expressions, or their negatives, may identify such forward-looking statements. These statements are not guarantees of results and should not be considered as an indication of future activity or future performance. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that may cause actual events or results to differ materially from those described in this press release, including but not limited to: the ability to successfully integrate DustPhotonics' operations and technology; the ability to achieve the financial milestones underlying the earnout consideration; competitive developments in the optical interconnect market; and general macroeconomic and semiconductor industry conditions. Readers are encouraged to review risk factors and all other disclosures appearing in Credo’s Annual Report on Form 10-K as filed with the Securities and Exchange Commission (SEC) on July 2, 2025, as well as Credo’s other filings with the SEC, for further information on risks and uncertainties that could affect Credo’s business, financial condition and results of operation. Copies of these filings are available from the SEC, Credo’s website or Credo’s investor relations department. Forward-looking statements speak only as of the date they are made. Credo undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this release. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.