Network Elements and TriQuint Semiconductor partner to develop 10-Gbit/sec optical modules

19 November 2003 Beaverton, OR Lightwave -- Network Elements Inc., developer of 10-Gbit/sec optical networking modules, today announced that it has solidified a strategic partnership with Hillsboro-based TriQuint Semiconductor, supplier of high performance components for communications applications. The companies will collaborate on the development, production, and worldwide distribution of optical 10-Gbit/sec optical networking modules.

Nov 19th, 2003

19 November 2003 Beaverton, OR Lightwave -- Network Elements Inc., developer of 10-Gbit/sec optical networking modules, today announced that it has solidified a strategic partnership with Hillsboro-based TriQuint Semiconductor, supplier of high performance components for communications applications. The companies will collaborate on the development, production, and worldwide distribution of optical 10-Gbit/sec optical networking modules.

The partnership will expand both companies' presence in the 10-Gbit/sec datacom, telecom, storage area networking, and test markets. The collaborative partnership is expected to decrease product cost and complexity with advanced ICs and reduce manufacturing and operational expenses while decreasing product time-to-market.

"We are extremely excited to be teaming with a company of Network Elements' caliber," asserts Glen Riley, vice president and general manager of TriQuint Semiconductor. "Network Elements' microelectronics and system integration competencies will complement our optoelectronics industry experience and capabilities, enabling both companies to provide products with the highest-level of quality and performance across a wide variety of markets."

With its recent acquisition of Agere's optoelectronics business earlier this year, TriQuint is now positioned as one of the world's largest suppliers of optical components and modules. In addition to TriQuint's low cost manufacturing capabilities and worldwide sales and distribution, the company's optical devices complement Network Elements' technology development and product line.

"Both TriQuint's and Network Elements' customers will see immediate benefits from combining the most advanced optical module innovations in the industry," adds Bruce Murdock, president and chief executive officer, Network Elements Inc. "TriQuint has proven to be a true leader in this industry, and we're very pleased with the opportunities this partnership creates. With first rate investors and a top tier partnership with TriQuint, we plan on leading this market, enabling the rapid growth of 10-Gbit/sec networking."

In addition to partnering with TriQuint, Network Elements has also announced the closing of $15 million in financing from Alloy Ventures, New Enterprise Associates, and Lake Street Capital.

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