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.