Joint venture

Richardson, TX-based Ericsson and Raychem Corp., Menlo Park, CA, will jointly develop, manufacture and market fiber-optic communications systems for telephone access networks worldwide. Ericsson Raynet, the joint venture company, will take over and continue the operations of Raynet, which was previously a Raychem subsidiary. The company will be located in Menlo Park and will employ approximately 700 people in engineering, manufacturing, sales and marketing.