Ericsson Optoelectronics sold to Northlight
Ericsson has sold its Stockholm-based Ericsson Optoelectronics division to Northlight Optronics AB. The sale includes all activities, including intellectual property and development and the manufacturing operations in Kista, Sweden.
The product range includes laser modules, receiver modules, integrated transponder/transmitter modules, and erbium-doped fibre amplifiers for operation up to 10Gbit/s.
Northlight has taken on all 48 staff and Ericsson retains 9.9% ownership in Northlight. Ericsson claims the sale is "in line with our on-going process to focus on the core business of providing systems and services for telecom operators".
Northlight is a new company formed by a consortium of investors and individuals led by UK venture capital firm European Digital Partners Ltd (EDP) and Finnish venture capital firm CapMan Capital Management Oy, together with the new management team of:
- CEO Keith Halsey, EDP's senior opto advisor and former founder/CEO of laser manufacturer Lyte Optronics (sold to AXT Inc) and Demeter (sold to Finisar Inc);
- COO Robert Green, former VP of business development with Bookham Technology plc;
- CTO Dr David Darby, ex-CTO of Lyte Optronics; and
- CFO Tom Mellkvist, ex-CFO of ADC Telecommunications Inc in Sweden (formerly Altitun AB).
"We are well positioned to meet the recovery in demand in this sector and have substantial revenues in place," says Halsey.