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SPECTRA DIODE LABS ANNOUNCES BUYOUT OF XEROX AND CIBA-GEIGY EQUITY INTERESTS

 SPECTRA DIODE LABS ANNOUNCES BUYOUT OF XEROX
 AND CIBA-GEIGY EQUITY INTERESTS
 SAN JOSE, Calif., July 23 /PRNewswire/ -- Spectra Diode Laboratories, Inc. (SDL), the world's leading manufacturer of high power semiconductor lasers and associated products, has been purchased by an investment group led by its employees.
 The purchase, finalized on July 17, 1992, involved a sale by Xerox Corporation, Stamford, Conn., and Ciba-Geigy Corporation, Ardsley, N.Y., of all of their interests in SDL. Prior to the transaction, Xerox and Ciba-Geigy each owned 37.5 percent of SDL and the remaining 25 percent was controlled by SDL's employees and former employees.
 The employee purchase of SDL was assisted by financing and equity investments made by Sprout Group, Menlo Park, Calif., and Brinson Partners, Inc., Chicago. Terms of the transaction have not been disclosed.
 SDL manufactures the world's highest power semiconductor lasers. The company's lasers are capable of producing continuous power levels of 20 watts or greater at efficiencies approaching 50 percent, thus making them the world's most efficient lasers. In May 1992, the company announced the world's highest average power (8 watts) visible semiconductor laser and commercial products based on this development. The company provides laser devices and related systems to a variety of applications including telecommunications, office equipment, medical, satellite communications, and the scientific laser markets.
 SDL was founded in 1983 as a joint venture of Xerox and Spectra- Physics, Inc. The company employs approximately 160 people. In 1991, sales and profit were at record levels.
 -0- 7/23/92
 /CONTACT: Dave Evans, vice president-marketing of Spectra Diode Laboratories, 408-943-9411/
 (XRX) CO: Xerox Corporation; Spectra Diode Laboratories, Inc. ST: Connecticut, California IN: CPR SU:


SM -- NY108 -- 2730 07/23/92 16:49 EDT
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Publication:PR Newswire
Date:Jul 23, 1992
Words:283
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