Corning acquires 90% stake in Optical Technologies
Corning Inc. (Corning, NY) has announced plans to acquire a 90% stake in optical-components maker Optical Technologies (Milan, Italy) from Italian cable-and-tire company Pirelli SpA (Milan, Italy) for $3.6 billion. Computer-networking equipment manufacturer Cisco Systems Inc. (San Jose, CA) will retain its 10% stake in the firm. Corning expects Optical Technologies, which makes lasers, components, and specialty fibers for telecommunications applications, to become profitable next year and generate incremental revenues of about $80 million by year-end 2001. The acquisition helps Corning expand its product mix. It also provides a manufacturing facility in Milan at a time when Corning and other telecommunications makers are struggling to produce enough produces to meet customer demand.
Wavesplitter Technologies files for IPO
Wavesplitter Technologies (Fremont, CA), which manufacturers optical components for optical amplifier and dense-wavelength-division-multiplexing systems for long-haul and metropolitan-area networks, has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering (IPO) of its common stock. In related news, the firm has completed a $51 million equity financing round. Funds will be used to help the firm increase manufacturing capacity, accelerate the release of new products, and expand its sales and customer-support groups.
ADVA Optical Networking acquires Telecom R&D team from Siemens
Supplier of optical networking equipment ADVA Optical Networking (Munich, German) has acquired a team of telecommunications R&D engineers from Siemens Norway (Oslo, Norway). Under terms of the agreement, the team was purchased for 6 million euros, with the purchase price paid in shares of common stock in ADVA. In line with the acquisition, the firm has formed a Norwegian subsidiary called ADVA Optical Networking AS. The telecom R&D team brings 32 engineers to ADVA that have significant experience in synchronous digital hierarchy/synchronous optical network and asynchronous-transfer-mode protocols. The acquisition highlights the company's focus on software management as a key element of its optical networking solutions.
Luminent to have an initial public offering
Luminent Inc. (Chatsworth, CA), which makes fiberoptic components for high-capacity data transmission, has set an IPO at 12 million common shares in a range of $13 to $15 per share. Under these terms, the unit of optical component and network infrastructure firm MRV Communications Inc. predicts that the IPO will bring in some $155 million in net proceeds. Luminent plans to use the money for general corporate purposes, including capital expenditures, working capital, and possible acquisitions.
Infineon Technologies licenses optical link technology to Molex
Infineon Technologies (Munich, Germany) has licensed its 12-channel parallel-optical-link module technology to Molex Inc. (Downers Grove, IL). The agreement, which establishes a second source for the datalink modules, extends Infineon's commitment to support the expanding global market for components for high-performance fiberoptic systems. The licensing agreement gives Molex the right to manufacture, market, and sell the modules, which are used to connect telecommunications and data-communications components and equipment for board-to-board or rack-to-rack applications.
Also in the news . . .
GN Nettest (Copenhagen, Denmark), which supplies test-and-measurement equipment for communications networks, has acquired Photonetics SA (Paris, France), which supplies testing equipment for DWDM systems and components. . . . DigiLens Inc. (Sunnyvale, CA), a supplier of optoelectronics technology for DWDM systems, has signed a technical licensing and materials-development agreement with research and engineering firm Science Applications International Corp. (San Diego, CA).
Paula Noaker Powell
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