Laser Power Corp. of San Diego has announced that it has completed the sale of the assets of its contract research operation to Orlando, Fla.-based Schwartz Electro-Optics Inc. The operation was responsible for developing the company's projection displays and 1550-nm microlaser technologies.

Schwartz has formed Photera Technologies Inc. in San Diego to absorb the business, which will focus on the development of dense wavelength division multiplexing subsystems and high-end displays.

Laser Power also announced that it has received the final cash payment for its microlaser business. It sold the unit to Melles Griot Inc. in December 1999.