Siemens buys local optical network producer
(China Daily)
Updated: 2006-05-17 06:40
Siemens Communications Group yesterday signed an agreement to acquire
Shanghai-based PhotonicBridges (China) Co Ltd, a local manufacturer of optical
network transport products. The deal, worth tens of millions of US dollars, is
expected to help strengthen Siemens' network business after it sold its ailing
mobile phone division to Taiwan's BenQ.
PhotonicBridges was established in 2000 with venture capital from a number of
investors, such as Legend Capital, Acer Technology ventures and Fortune Assets
Management Ltd. PhotonicBridges has previously been an OEM (original equipment
manufacturing) partner of Siemens.
After gaining approval from Chinese regulators for the acquisition, Siemens
will merge all of PhotonicBridges' products into its global optical network
portfolio. PhotonicBridges now employs more than 300 people, developing optical
transmission systems based on a standard called SDH (Synchronous Digital
Hierarchy).
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