Transmode and Lumentis to Merge
STOCKHOLM, Sweden, March 23 -- Stockholm-based telecommunication companies Transmode Systems AB and Lumentis AB announced today they are merging into a new company, Transmode, to better pursue the metro wavelength division multiplexing (WDM) global equipment market.
Through the merger, which is effective immediately, the companies said Transmode "becomes a major supplier to telecommunications operators, MSOs, systems integrators, enterprises, utilities, public institutions and OEM partners worldwide."
Isaac Olasoko, Transmode Systems CEO, will lead the new company. Transmode closed a $15 million financing round last December, and Lumentis raised $9 million in June 2004. The total investment to date in both companies is $81 million, and existing investors Amadeus Capital Partners, POD Holding, HarbourVest, European Equity Partners, Chandaria, Santec and the founders of both companies each own a share of the new company.
For more information, visit: www.transmode.com
LATEST NEWS
- Exail Signs LLNL Contract, Partners with Eelume
Apr 26, 2024
- Menlo Moves U.S. HQ: Week in Brief: 4/26/2024
Apr 26, 2024
- Optofluidics Platform Keys Label-, Amplification-Free Rapid Diagnostic Tool
Apr 25, 2024
- DUV Lasers Made with Nonlinear Crystals Enhance Lithography Performance
Apr 25, 2024
- Teledyne e2v, Airy3D Collaborate on 3D Vision Solutions
Apr 24, 2024
- One-Step Hologram Generation Speeds 3D Display Creation
Apr 24, 2024
- Innovation Award Winners for Laser Technology Honored in Aachen
Apr 23, 2024
- Intech 2024: AI Arrives on the Shop Floor
Apr 22, 2024