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Transmode Systems AB

Transmode and Lumentis to Merge

Stockholm, Sweden (ots/PRNewswire)

- Powerful new Optical Networking company created to address
rapidly growing Metro WDM Market
Transmode Systems AB and Lumentis AB, two of Europe's most
successful private telecommunication companies, announced today that
they will merge to create a new global force in Optical Networking.
The companies, which are both headquartered in Stockholm, Sweden,
will form a new company under the Transmode identity to further
penetrate the growing Metro Wavelength Division Multiplexing (WDM)
global equipment market.
Through the merger, which is effective immediately, Transmode has
become a major supplier to telecommunications operators, MSOs,
systems integrators, enterprises, utilities, public institutions and
OEM partners world-wide. Over the past five years, both Transmode
Systems and Lumentis have grown rapidly - the new organization has
more than 100 customers globally and an established network of
value-added resellers - and won several awards from the investment
community as well as the telecommunications industry press.
The new Transmode brings a broad portfolio of Optical Networking
solutions based on WDM to the market, designed to cater for the needs
of Network Operators and Enterprises alike without compromising on
functionality or cost-efficiency. Transmode's products address
requirements from regional networks, through metro core and access
networks, all the way down to the customer premises.
Isaac Olasoko, Transmode Systems' CEO who will also lead the new
company, commented: "I am very excited about the prospects for the
new Transmode. Customers of both companies will benefit from a
greater choice of solution and dealing with an organization with
global operational strength. Because the products of both companies
are highly complementary, we will be able to serve both a broader
base of customers, particularly opportunities with larger carriers,
and a broader set of applications within those customers' networks."
Anders Lundberg, CEO of Lumentis, added: "Merging with Transmode
is a natural step in the evolution of Lumentis' business. Together,
we are building on the strong heritage of Optical technology
expertise that Sweden is renowned for internationally. The
combination of market opportunity, complementary products,
geographical proximity and cultural compatibility created a
compelling reason for our companies to come together".
The new organization also has considerable financial backing, with
Transmode having closed a $15M financing round last December and
Lumentis raising $9M in June 2004. The total investment to date in
both companies is $81M, and existing investors Amadeus Capital
Partners, POD Holding, HarbourVest, European Equity Partners,
Chandaria, Santec, and the founders of both companies each own a
share of the new Transmode.
Further announcements regarding the structure of Transmode's
management team and longer-term strategic direction will be made in
due course.
About Transmode
www.transmode.com
Transmode Systems is a leading global supplier of Optical
Networking solutions. The company pioneered a new generation of
optical transmission system built on CWDM technology, the System
1100, which redefined the price/performance benchmark for
metropolitan and access networking and is now deployed in Service
Provider and Enterprise networks globally. Based in Stockholm,
Sweden, Transmode has now broadened its product portfolio to
encompass next-generation edge aggregation solutions for SDH/SONET
and dark fibre networks.
About Lumentis
www.lumentis.com
Lumentis is a provider of carrier-grade optical transport
solutions for city and regional optical networks that reduces capital
and operational expenses. Lumentis offers the only all-in-one CWDM,
DWDM and SONET/SDH platform that shares the same chassis, fiber pair
and network management platform that removes overhead costs and
simplifies network design. The Lumentis platform enables the
elimination of optical amplifiers without sacrificing network
utilization and scalability. Lumentis delivers solutions to both
mobile and city carriers as well as to the enterprise and financial
sector.

Contact:

For further information, please contact: Transmode Systems, Michael
Crossey, VP Marketing & Business Development, Phone:
+44-(0)7734-318210, Email: michael.crossey@transmode.se