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January 20, 2003
LONDON -- European Digital Partners (EDP) and CapMan have together with new management team acquired Ericsson’s optoelectronics division through Northlight Optronics AB. Northlight is a new entity funded by the management team and investor syndicate for this transaction. The new management team is led by Mr. Keith Halsey and joined by Mr. Robert Green, Dr. David Darby and Mr. Tom Mellkvist. The management team all have substantial experience from the optoelectronic industry through companies such as Lyte Optronics, Demeter Technologies, Bookham Technology and ADC (formerly Altitun AB). Ericsson’s optoelectronic division is one of the leading suppliers of active fiberoptic components for optical communication systems. Its product range includes laser modules (Tx), receiver modules (Rx), integrated transponder/transmitter modules, and optical fiber amplifiers (EDFAs). Components are used in optical network equipment systems and subsystems. Northlight Optronics largest customers are network equipment system suppliers such as Lucent, Alcatel, Cisco and Siemens. European Digital Partners and its predecessor Arkwright Capital Partners have been active in the optoelectronic industry since 1997 and conducted several successful investments in the UK and the US. Northlight Optronics will through the acquisition of Ericsson’s optoelectronics division gain access to solid technology, developed by Ericsson over 20 years, as well as a strong list of customers and a cost efficient production organisation. With the new management team who all have a proven track record from the industry, EDP believes Northlight Optronics is well positioned to benefit from future market recovery."Northlight Optronics will gain a world class capability in optical chip production. We are well positioned to meet the recovery in demand in this sector and have substantial revenues in place" says Mr Keith Halsey."I believe that this investment represents an excellent opportunity to enter the market in advance of expected recovery together with a management team with whom EDP has worked closely for number of years" says Mr Erik Fallstrom, Managing Partner at EDP.European Digital Partners Ltd.CapMan Capital Management Oy
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