Modulight completes first round of financing
Source: Modulight Inc.
Tampere, Finland. Modulight, Inc. announced today that Picogiga (www.picogiga.com, Paris, France), a world leader in the production of compound semiconductor products for the microwave applications including digital television, wireless communication and satellites, has made a capital investment in Modulight. Picogiga will take 40% share in Modulight. Petteri Uusimaa, President & CEO of Modulight, says: "This capital investment allows us to ramp up our production capacity and set up a high quality R&D site, and is a vote of confidence in the bright future of Modulight during a period of considerable market turbulence".
Linh Nuyen, Chairman and CEO of Picogiga: "Modulight has very strong technical capacities within optical fiber communication. Picogiga is very excited to enter this market through taking a share in Modulight - a company with world renowned technical expertise and excellent market potential."
Background
Headquartered in Tampere, Finland, Modulight designs and manufactures optoelectronic components for the telecommunications. The company was founded in May 2000. The company builds on the world-class technology developed at Optoelectronics Research Centre (ORC) at Tampere University of Technology (www.orc.tut.fi). Modulight s products are used in transmitting, receiving and amplifying light, which carries the information in fiber optic networks. Fiber optic communication is the only technology that allows high enough transmission speed for the exploding Internet traffic. One thin fiber can carry up to 100 million simultaneous voice calls or 640,000 high bit rate ADSL Internet lines using the so-called Wavelength Division Multiplexing (WDM) technology where several signals at different "colors" are used to transmit information same optical fiber.
Contact:
Petteri Uusimaa Modulight, Inc. info@modulight.net www.modulight.net
Jean Pierre Renault Picogiga SA jprenault@picogiga.com www.picogiga.com
Petteri Uusimaa
Modulight, Inc.
info@modulight.net
www.modulight.net
Jean Pierre Renault
Picogiga SA
jprenault@picogiga.com
www.picogiga.com
E-mail: jprenault@picogiga.com
Web site: http://www.picogiga.com
