17 Jun 2002
Danish company Ibsen Photonics separates from US firm ADC after a management-led buy-out.
Denmark-based Ibsen Photonics is set to receive USD 15 million in funding as part of a management buy-out from ADC Telecommunications. Funding will be provided by venture capitialists 3i and Dansk Kapitalanlæg.
"We have clearly benefited from being part of the ADC organization, and have already identified a number of strategic opportunities for co-operation," said Torben Jacobsen, president of Ibsen Photonics. "We have taken over all the relevant assets from ADC Denmark with the backing of first class investors," added Jacobsen.
With a ten-year history in the manufacture of phase masks for the optical industry, Ibsen was first acquired by ADC Denmark in May 2000. Since then, ADC Denmark has grown significantly and moved to new facilities.
Ibsen Photonics will be established as a new company and continue the activities of ADC Denmark. The company will employ 71 people and comprise the same management team that led ADC Denmark.
Niels Kristian Agner, managing director of Dansk Kapitalanlaeg said: "The positive influence of ADC during its ownership of Ibsen is evident, and the focus on operational management has already led to an impressive capacity expansion and further expansion is planned."
Ibsen plans to continue development of phase masks that will be used to make telecommunication components such as fiber Bragg gratings and meet the increasing demands of the dense wavelength division multiplexing marketplace.