Chorum Technologies to Acquire Liquid Crystal Display Manufacturer Polytronix.Business & High Tech Editors RICHARDSON, Texas--(BUSINESS WIRE)--Jan. 30, 2001 Move will accelerate Chorum Technologies' leadership in the next-generation fiber-optics market Chorum Technologies Inc., a leading innovator of all-optical processors and subsystems in the fast-growing fiber-optics market, today announced it has entered into a definitive agreement to acquire Polytronix, Inc., a leading manufacturer of Liquid Crystal Display liquid crystal display (LCD) Optoelectronic device used in displays for watches, calculators, notebook computers, and other electronic devices. Current passed through specific portions of the liquid crystal solution causes the crystals to align, blocking the passage of light. (LCD (Liquid Crystal Display) A display technology that uses rod-shaped molecules (liquid crystals) that flow like liquid and bend light. Unenergized, the crystals direct light through two polarizing filters, allowing a natural background color to show. ) technologies. Polytronix's key technologies consist principally of standard and custom-made LCDs for application in the telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. , healthcare, aerospace and consumer electronics industries. Polytronix, based in Richardson, Texas Richardson is a suburb in Dallas County and Collin County, Texas. As of the 2000 census, the city had a total population of 91,803, while according to a 2006 estimate, the population had grown to 99,200. , will operate as a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Chorum Technologies. It was acquired in a transaction accounted for as a purchase. Additional terms were not disclosed. Chorum Technologies' acquisition builds on its broader strategy of reducing product design and manufacturing cycles through improved supply chain management and innovative high-volume production processes. In addition, the agreement also gives Chorum Technologies the skills and knowledge base to offer its customers even more advanced liquid crystal-based optical networking Communications between computers, telephones and other electronic devices using light. An optical network is far more reliable and has far greater potential transmission capacity than networking in the electrical domain. See optical fiber. solutions in the future. "This is an outstanding addition to Chorum Technologies," said Scott Grout Grout A binding or structural agent used in construction and engineering applications. Grout is typically a mixture of hydraulic cement and water, with or without fine aggregate; however, chemical grouts are also produced. , Chorum Technologies president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "With Polytronix's advanced liquid crystal technology, we will be able to accelerate the introduction of Chorum Technologies' next generation of all-optical processors." Chorum Technologies' family of PolarWave(TM) products includes optical filters, optical switches, optical processors and integrated optical subsystems. The PolarWave family of optical networking products is based on Chorum Technologies' polarization polarization Property of certain types of electromagnetic radiation in which the direction and magnitude of the vibrating electric field are related in a specified way. processing and liquid crystal technologies. Utilizing liquid crystal as a medium for manipulating optical signals, Chorum Technologies can deliver high-performance fiber-optic products that feature no moving parts Moving parts are the components of a device that undergo continuous or frequent motion, most commonly rotation. "Parts" only include the mechanical components which does not include fuel, or any other gas or liquid. , fast switching speeds and superior optical performance. "We're proud of our broad global customer base, but to maximize our growth opportunities requires strong business partners," said Dr. Guohe Huan, Polytronix president and CEO. "Chorum Technologies' talented management team and strong relationships in the optical networking market will considerably strengthen Polytronix's ability to serve more customers than ever before." About Chorum Technologies Chorum Technologies Inc. is a leading innovator of all-optical processors and subsystems in the fast-growing fiber-optics market. Chorum Technologies' PolarWave(TM)family of optical filtering, switching, routing and processing technologies enables networks that are faster, more flexible and more cost effective than today's networks. Chorum Technologies Inc. was founded in 1996 and is based in the Telecom Corridor(R)of Richardson, Texas. For more information, visit www.chorumtech.com. PolarWave(TM), Optical Slicer(TM) and Slicing(TM) are trademarks of Chorum Technologies Inc. Telecom Corridor(R) is a registered trademark of the Richardson Chamber of Commerce. About Polytronix Established in 1980, Richardson, Texas-based Polytronix, Inc. has been a world leader in providing advanced Liquid Crystal Display (LCD) technology for all standard and custom-made display needs in the telecommunications, healthcare, aerospace and consumer electronics industries. For more information, visit www.polytronix.com. |
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