DigiLens Patents Sold
Former CEO Jonathan Waldern has reclaimed the DigiLens Inc. patent portfolio, although he's not likely to revive DigiLens' photonics business any time soon.
Waldern's new outfit, SBG Labs Inc., acquired DigiLens' intellectual property yesterday in a foreclosure sale (see SBG Acquires DigiLens IP).
DigiLens shut down in March after failing to nail a $15 million round of financing. It would have been DigiLens' fifth round, bringing its funding total to $82 million (see DigiLens Shrinks Another 50 Percent, DigiLens Grabs $4M, DigiLens Creates 'Liquid Gratings', and Round 4 for DigiLens: $40M).
Waldern left in March to start SBG, while other board members tried to sell or restructure DigiLens. Eventually, the banks chose to foreclose.
SBG makes optical components for digital camera displays. SBG can make use of DigiLens' patents, which relate to electrically switched Fiber Bragg Gratings (FBGs), but probably won't be reviving DigiLens' dynamic gain equalizer business. "That's an extremely expensive proposition," Waldern says.
SBG took over DigiLens' Sunnyvale, Calif., headquarters and is using DigiLens' Website for the moment.
— Craig Matsumoto, Senior Editor, Light Reading