Invention Machine Corp.,

Sept. 1, 1997

Invention Machine Corp.,

Boston, and LightPath Technologies Inc., Albuquerque, NM, have created LightChip Inc., a joint venture company. LightChip will develop, manufacture, and market wavelength-division multiplexing (wdm) systems aimed at the telecommunications carrier, cable-TV, and local-area and wide-area network markets. LightPath will own 51% of the joint venture. Invention Machine will own 35%, with the remainder reserved for "key employees." Invention Machine will contribute senior-level expertise and exclusive use of proprietary software for conceptual design of the wdm products. LightPath will add its proprietary gradium glass expertise and research-and-development capabilities. The venture provides LightPath, which until now has been strictly a materials supplier, with the opportunity to act as a value-added systems integrator.

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