Irish photonic test companies merge

10 June 2003 Dublin, Ireland Lightwave Europe--Tsunami Photonics Limited, specialists in fast test system software for photonic components and PXIT, a manufacturer of PXI based modular test systems, have announced a merger.

10 June 2003 Dublin, Ireland--Tsunami Photonics Limited, specialists in fast test system software for photonic components and PXIT, a manufacturer of PXI based modular test systems, have announced a completed merger of their respective businesses.

The merger mechanism is the acquisition of PXIT's PXI business by Tsunami Photonics Limited of Dublin, Ireland. The merged entity will trade under the PXIT name and will focus on providing test solutions for manufacturers of optical and opto-electronic components.

Consolidating its commitment to the PXI modular instrument standard, the company will combine PXI optical instrument modules, proprietary technology and powerful analysis software to provide highspeed, cost effective optical test solutions.

PXIT's new CEO, Ultan O'Raghallaigh said, "Our objective is to be the leading provider of enabling technology for test and measurement and process control for the optical components industry. With the completion of this merger, PXIT is now uniquely positioned to achieve value for our customers and return for our shareholders".

Taking on the new role of Sales and Marketing Director, PXIT founder, Darach Kelly said, "By combining our skills and technology, PXIT can now bring comprehensive photonic test solutions to the market. Our modules leverage the PXI open standard to provide flexible building blocks for photonics test.

"By combining these modules in application platforms, we offer cost effective functionality and flexibility. With our additional skills in software creation and photonics, we also provide system level solutions such as our CLose-Grid laser characterisation system."

The goals of the merged entity are underpinned by an investment in excess of USD1.5 million. Venture capital company Delta Partners led the investment round together, with Enterprise Ireland (Ireland's enterprise development agency) and several private investors.

Maurice Roche, General Partner at Delta Partners commented: "The combination of PXIT and Tsunami affords the synergy, strength and vision required in today's marketplace and the opportunity to build a world class photonics test and measurement company."

About Tsunami Photonics
(www.tsunamiphotonics.com)
Tsunami was founded in 2001 by Ronan O'Dowd, Professor of Electronic Engineering at University College Dublin, Ireland and a pioneer in the field of tuneable lasers.

Fulfilling its initial objective of the development of enabling technologies for tuneable lasers, the company launched it's first product, CLose-Grid, a software suite for the test and rapid precision characterisation of active and passive components, at OFC in March 2002.

About PX IT
(www.pxit.com)
PXIT is an Irish company founded in 1998 by Darach Kelly and Brian McBride. PXIT is an ISO9001 company with offices in Germany and the United States.

The company has an established leadership position in the PXI standard for modular instruments, providing open architecture, modular instrumentation solutions to its test and measurement customers. The company's PXI test system and module level offerings are exported worldwide to opto-electronics manufacturers and test systems integrators.

PXI is a modular instrument standard, based on CompactPCI. It combines industry standard hardware and software with a rugged industrial form factor. PXI also adds timing and synchronisation features essential for a measurement system.

The PXI standard is promoted and developed by an independent body, the PXI Systems Alliance (PXISA). As a founder member of the PXISA, PXIT is working with its fellow members to promote and develop the PXI standard.

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