CyOptics Inc. raises $57 million.Business & High Tech Editors HAIFA, Israel--(BUSINESS WIRE)--Oct. 4, 2000 Elbit Systems Elbit Systems Ltd. NASDAQ: ESLT is one of Israel's largest defense electronics manufacturers and integrators. Established in 1967, and based in Haifa, Israel, Elbit has over 8,000 employees. Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ESLTF) announced today that on October 3, 2000, CyOptics Inc. ("CyOptics") completed the raising of an additional $57 million in capital. Prior to this investment, approximately 26.1% of CyOptics was owned by Semi-Conductors Devices ("SCD ScD [L.] Scien´tiae Doc´tor (Doctor of Science). SCD 1 Sickle cell disease, see there 2 Subacute combined degeneration, see there 3 Sudden cardiac death, see there "), a partnership owned equally by Elbit Systems and Rafael Armaments Development Authority. SCD invested $4.8 million in the current round, and its ownership interest in CyOptics after the investment is approximately 22.8%. The participants in this round of equity investment included the following new investors: Cisco Systems “Cisco” redirects here. For other uses, see Cisco (disambiguation). Cisco System,Inc. (NASDAQ: CSCO, HKSE: 4333 ) is an American multinational corporation with 54,000 employees and annual revenue of US $28.48 billion as of 2006. , Corning, Intel Capital and Vitesse. In addition, original CyOptics' shareholders including SCD also participated in the investment. CyOptics develops components for optical communicators at 10 and 40 Gbps, based on Indium indium (ĭn`dēəm), a metallic chemical element; symbol In; at. no. 49; at. wt. 114.82; m.p. 156.6°C;; b.p. about 2,080°C;; sp. gr. 7.31 at 20°C;; valence +1, +2, or +3. Phosphide phosphide Any of a class of chemical compounds in which phosphorous is combined with a metal. Phosphides exhibit a wide variety of chemical and physical properties. Phosphides that are rich in metal have high melting points and are hard, brittle, and chemically inert; these (InP) technology. The President of CyOptics, Eran Yarkoni, said: "I am proud to have this superb group of corporate investors, each a leader in its market, vote their confidence in CyOptics. We expect these companies to provide tremendous added value Added value in financial analysis of shares is to be distinguished from value added. Used as a measure of shareholder value, calculated using the formula:
ABOUT ELBIT SYSTEMS LTD. Elbit Systems Ltd. is engaged in a wide range of defense-related airborne, ground and command, control and communications ("C3") programs throughout the world. The Company focuses on upgrading of existing military platforms and developing new technologies for defense applications. Forward looking statements with respect to the Company's business, financial condition and results of operations, in this release are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward looking statements, including, but not limited to, product demand, pricing, market acceptance, changing economic conditions, risks in product and technology development, the effect of the Company's accounting policies as well as certain other risk factors which are detailed from time to time in the Company's SEC filings. |
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