Kymata, the Livingston-based optical components company built on University of Glasgow technology, has been bought by French company Alcatel Optronics for more than £100M.

The University through its Intellectual Property investment in Kymata owned some three per cent of the company through various stock holdings.

Billy Harkin of the University's Research & Enterprise unit says: "This is a very encouraging success at a difficult time for the sector. In addition to its share of the sale price of Kymata, the University now has the prospect of an income stream from product royalties in the years ahead as well as increased levels of research contracts and other collaborations. The successful sale of a spin-off company for £100M is a great achievement."

Professor Peter Holmes, the University's Vice-Principal for Research, says: "It is very exciting that Kymata, only three years after its creation, is now moving up to the next stage of growth. To have already achieved an official valuation of over a hundred million pounds in such a short time, particularly given the current market conditions, is outstanding. This demonstrates the quality of technology companies now being developed within a solid partnership of leading-edge University research and strong business management. I congratulate all those involved in the University's Department of Electronics & Electrical Engineering and Research & Enterprise."

Kymata specialises in planar technology for high-end passive optical network components, representing the majority of the fast growing Dense Wavelength Division Multiplexing (DWDM) market.

Alcatel describes itself as "building next generation networks, delivering integrated end-to-end voice and data networking solutions to established and new carriers, as well as enterprises and consumers worldwide. With sales of EURO 31 billion in 2000 and 110,000 employees, Alcatel operates in more than 130 countries."

Alcatel Optronics designs, manufactures and sells high performance optical components, modules and integrated sub-systems for use in terrestrial and submarine optical telecommunications networks.

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Alcatel Optronics Investor Relations and U.S./UK Press Contact Charlotte Laurent-Ottomane Tel: +1. 703 679 6710/U.S. Tel: +33 1 40 76 13 30/France charlotte.laurent-ottomane@alcatel.fr

First published: 30 July 2001