Nortel buys Australian optical component company

Telecommunications equipment vendor Nortel Networks has acquired optical component technology provider Photonic Technologies, a move designed to strengthen its presence in developing the all-optical internet market.

Nortel, which already owned a one-third stake in the company, will pay up to $US35.5 million in cash, Nortel said in a news release.

Sydney-based Photonic Technologies develops optical component technology for high-speed optical and DWDM (dense wave-division multiplexing) networks, Jeff Ferry, a Nortel spokesman said.

Photonic Technologies will join Nortel Networks' High Performance Optical Component Solutions unit, the company statement said.

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