OXFORDSHIRE, England, August 2 -- Bookham Technology, a provider of integrated optical components and subsystems for fiber optic communication networks, announced it has sold its Canada-based R&D subsidiary, Measurement Microsystems AZ Inc. (MM), to a company backed by former management of MM. Bookham has retained a 25 percent shareholding in MM.
The terms of the transaction allow Bookham to continue to use MM's patented optoelectronic technology. The transaction follows Bookham's decision announced in February to discontinue development efforts and close the operation.