NKT Integration sold to Ignis NKT Holding has entered into agreement with Norwegian listed company Ignis for acquisition of part of NKT Integration operations.
(Photonics)
The acquisition, for a sales price of 4.7 million euro, will be effective from 17 January 2005. NKT, a Greater Copenhagen-based developer of optical telecom components, is committed to wind up the operations that will not be acquired and to assist certain services and competences for a transitional period.
Ignis, until October 2004 known as WiCom ASA, is a Norwegian technology company that, among other business areas, operates within the development of optical chips fabricated by means of a special technology (Tunable Diffraction Grating Technology). This is the area where there is potential for commercial synergies between NKT Integration and Ignis.
Ignis is headquartered in Oslo and listed on the Oslo Stock Exchange. The company currently has a market capitalisation of approximately 25.5 million euro.
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