FITCHBURG, Mass. -- Headwall Photonics has successfully completed amanagement buy-out of the spectral module and holographic diffraction gratingbusiness from Agilent Technologies (NYSE:A).Headwall Photonics is focused on providing advanced optical technologies that managewavelengths for its customers in the Life Sciences, Analytical Test & Measurement,and Telecommunications industries. The management buy-out consisted of fundingand asset list value in excess of $8 million and includes all manufacturing assets,technology rights, and supplier agreements along with a long-standing customer base.Headwall will maintain its current 20,000 square foot facility that includes almost10,000 square feet of ISO 9001:2000 certified Clean Room manufacturing capability.Agilent has taken a position as a strategic investor in Headwall as well as maintainingits position as a purchaser of key technology from Headwall. “As an independentcompany, Headwall Photonics now has the charter to capitalize on its technicalstrengths and engineering capabilities, pursue new markets, and to continue its growthto become an industry leader,” said Kenn Wildnauer, Business Technology Managerfor Agilent Technologies. “We feel that the industry needs technology providers thatcan deliver advanced optical solutions to meet specific application requirements. Withtheir unique capabilities and processes, Headwall is strongly positioned to do this.”“We are tremendously excited about this management buy-out. Headwall will continueto leverage our advanced optical engineering capabilities to take full advantage of theprocess manufacturing technology and infrastructure acquired from Agilent. Thesecapabilities, coupled with the rich legacy and roots of American Holographic,strengthen our leadership position,” said Larry Barstow, CEO of Headwall and formerGeneral Manager of the Agilent Holographic Grating Operation. “With our experiencedmanagement and technical team, we will expand our customer capabilities and deliverapplication-specific optical solutions.”Headwall Photonics Inc.