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  • QPC Ends License Agreement with Finisar
Nov 2006
SYLMAR, Calif., Nov. 7, 2006 -- QPC Lasers Inc., the parent company of Quintessence Photonics Corp., announced this week it will pay $6 million to terminate a license agreement with fiber optic components maker Finisar Corp.
In a license termination agreement dated Sept. 18, QPC agreed to pay Finisar $6,000,000 as a termination fee, pursuant to the terms of a secured promissory note. The agreement, made in 2003, was granted in connection with a financing round and gave Finisar a nonexclusive license to certain QPC technology and intellectual property.

Finisar invested $12 million in QPC in 2001 and currently holds 6.75 million shares of QPC Lasers Inc. common stock.

Quintessence Photonics Corp., based in Sylmar, Calif., is a developer of high-brightness, high-power semiconductor lasers for the industrial, defense and medical markets.

The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...
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