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Infineon to Spin Off WDM Unit
Nov 2002
MENLO PARK, Calif., Nov. 26 -- Infineon Technologies announced it has signed a definitive agreement to spin off its fiber optic passive wavelength division multiplex (WDM) unit and its R&D in the WDM optical component arena and merge these activities with OpTun, an optical startup company. The combined company, which will retain the name OpTun, will provide smart WDM solutions and modules to the optical networking systems market. OpTun's products use planar lightwave circuit technology.

Infineon, which will be a shareholder of the new company, will transfer its related intellectual property and patents to OpTun and distribute its products.

In conjunction with the spin-off/merger transaction, OpTun is raising a second round of financing. Participants are Infineon AG, Landeskreditbank Baden-Wuerttemberg, Seed Ventures GmbH and existing investors Benchmark Capital and Delta Ventures. The first closing will be this week, and negotiations are taking place with additional investors. OpTun has raised a total of $19.5 million to date; it also has a venture leasing line from Lighthouse Capital.

Edwin Slonim will continue to be CEO of OpTun, which has offices in Menlo Park, Calif.; Munich, Germany; and Haifa, Israel.

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