Business briefs
17 Jun 2002
Including news from Gigabit Optics, Opto Speed, Aixtron, Polatis and Cree.
US-based
Gigabit Optics, a developer of integrated components for optical networks, has appointed
Patrick Edsell as its new chief executive officer. Edsell joins Gigabit from
Spectra-Physics where he held the positions of chairman, president and chief executive officer.
Switzerland-based
Opto Speed has won EURO 20 million (USD 17.5 million) in second round funding from venture capitalists led by the
Carlyle Group. The developer of indium-phosphide-based optoelectronics components will use the cash to open a US office and expand its European manufacturing operations.
The
Fraunhofer Institute for Applied Solid-State Physics (IAF) has purchased a metal-organic chemical vapor deposition system from
Aixtron of Germany. The IAF will use the reactor to develop nitride materials for ultra-high-brightness blue and UV LEDs and violet-emitting lasers for
data storage.
Polatis of the UK, a developer of photonic switches for the telecoms industry, has raised USD 8.4 million in its latest round of funding. The investment round was led by
Prelude Trust (USD 3 million), new investor
EonTech Ventures (USD 1 million) and existing investors
Alta Berkeley and
3i each contributing USD 2.2 million.
US-based
Cree is anticipating third quarter revenues of between USD 32 million and USD 34 million. The company posted revenues of USD 41 million for the previous quarter and cites the low short-term LED demand for this decrease.
