FITCHBURG, Mass., August 5 -- Headwall Photonics has completed a management buyout of Agilent Technologies' spectral module and holographic diffraction grating business. The management buyout consisted of funding and asset list value in excess of $8 million and includes all manufacturing assets, technology rights and supplier agreements, along with a longstanding customer base. Headwall Photonics provides advanced optical technologies that manage wavelengths for customers in the life sciences, analytical test and measurement and telecommunications industries. Headwall will maintain its current 20,000-square-foot facility, which includes almost 10,000 square feet of cleanroom manufacturing capability. The employees of the former Agilent holographic grating operation have joined Headwall Photonics. Agilent has taken a position as a strategic investor in Headwall as well as maintaining its position as a purchaser of key technology from Headwall. "As an independent company, Headwall Photonics now has the charter to capitalize on its technical strengths and engineering capabilities, to pursue new markets and to continue its growth to become an industry leader," said Kenn Wildnauer, business technology manager for Agilent Technologies. "Headwall will continue to leverage our advanced optical engineering capabilities to take full advantage of the process manufacturing technology and infrastructure acquired from Agilent." Headwall Photonics, formerly American Holographic, also announced its board of directors: Larry Barstow, president and CEO, former general manager of the Agilent Holographic gratings operation; David Bannon, COO;and Thomas Mikes, managing partner, Applied Spectral Partners and former founder of American Holographic. For more information, visit: www.headwallphotonics.com