Irish Photonic Test Companies Merge

Dateline: 28 May 2003

Tsunami Photonics Limited, specialists in fast test system software for photonic components and PXIT, a manufacturer of PXI based modular test systems, today announced a completed merger of their respective businesses.
The merger mechanism is the acquisition of PXIT’s PXI business by Tsunami Photonics Limited of Dublin, Ireland.

The merged entity will trade under the PXIT name and will focus on providing test solutions for manufacturers of optical and opto-electronic components. Consolidating its commitment to the PXI modular instrument standard, the company will combine PXI optical instrument modules, proprietary technology and powerful analysis software to provide high-speed, cost effective optical test solutions.

The goals of the merged entity are underpinned by an investment in excess of $1.5 million. Venture capital company Delta Partners led the investment round together, with Enterprise Ireland (Ireland's enterprise development agency) and several private investors. Maurice Roche, Partner at Delta Partners commented: ”The combination of PXIT and Tsunami affords the synergy, strength and vision required in today’s marketplace and the opportunity to build a world class photonics test and measurement company.”

PXIT’s new CEO, Ultan O'Raghallaigh stated: “Our objective is to be the leading provider of enabling technology for Test & Measurement and Process Control for the optical components industry. With the completion of this merger, PXIT is now uniquely positioned to achieve value for our customers and return for our shareholders”.

Taking on the new role of Sales and Marketing Director, PXIT founder, Darach Kelly said “By combining our skills and technology, PXIT can now bring comprehensive photonic test solutions to the market. Our modules leverage the PXI open standard to provide flexible building blocks for photonics test. By combining these modules in application platforms, we offer cost effective functionality and flexibility. With our additional skills in software creation and photonics, we also provide system level solutions such as our CLose-Grid™ Laser Characterisation System.”

Delta Partners Limited is regulated by the Central Bank of Ireland