CiDRA Completes $127.5 Million Sale of Optical Sensing Systems.Business Editors/High Tech Writers WALLINGFORD, Conn.--(BUSINESS WIRE)--Dec. 4, 2001 CiDRA Corporation ("CiDRA"), a leading provider of optical components and subsystems for the next generation of optical telecommunications networks, announced that it has completed the sale of its Optical Sensing optical sensing, in general, any method by which information that occurs as variations in the intensity, or some other property, of light is translated into an electric signal. This is usually accomplished by the use of various photoelectric devices. Systems (OSS Oss (ôs), city (1994 pop. 62,141), North Brabant prov., S Netherlands; chartered 1399. It is a significant industrial center. Manufactures include meat products, chemicals, pharmaceuticals, electrical equipment, and metalware. ) business to Weatherford International Weatherford International Ltd (NYSE: WFT) is one of the world's largest diversified upstream oilfield service companies. Weatherford provides services ranging from directional drilling, open and cased-hole wireline logging to underbalanced systems expertise, drilling, , Inc. The sale totaled $127.5 million and consideration was paid in both cash and stock. "This capital will allow us to continue to develop market-leading and highly scaleable products and solutions that will give our customers a competitive advantage," said Kevin Didden, 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. , CiDRA Corporation. CiDRA's products include the AgileWave(TM) Dynamic Spectral Equalizer, the industry's first 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. product to feature Texas Instruments See TI. (company) Texas Instruments - (TI) A US electronics company. A TI engineer, Jack Kilby invented the integrated circuit in 1958. Three TI employees left the company in 1982 to start Compaq. Digital Light Processing(TM) technology, the AgileWave(TM) Tunable Bandpass Filter and AgileWave(TM) Optical Channel Monitor. All of these products have had great success in a rapidly growing base of customers for CiDRA. The company will also maintain and support a contract with Weatherford, as it continues to leverage the success of fiber optic technology in the oil and gas industry. Founded in 1996, CiDRA Corporation designs, manufactures and markets component, module and subsystem products for dynamic routing, monitoring and conditioning of optical signals for optical telecommunications networks. CiDRA's family of AgileWave(TM) products are designed to bring a new level of flexibility, reliability and intelligence to the next generation of optical telecommunications networks. Additional information about CiDRA can be found at www.cidra.com. |
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