Origin Energy, page-3

re:Silex 27/5 http://www.patersonord.com.au/industrialviews.cfm?mode=view&newsid=2056#newsitem
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Silex Systems 27-May-02 00:00
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Silex Systems (SLX) has announced the effective acquisition of Photonica, a small Adelaide-based R&D company focussing on the next generation of Fiber Optic Test Equipment (FOTE) market. SLX has paid A$750,000 for the option to buy 51% of Photonica. The option is exercisable in three months, at which time a further A$4.5m will be paid. The funds will be used to ramp up Photonica’s manufacturing capability with a view to selling the equipment in an OEM arrangement. SLX management stated it expects to earn revenue from the product in 2002. Management forecasts revenue of A$25- 50m and EBIT of A$12-20m within a three- to four-year timeframe. Photonica also has a profitable laser distribution business and is developing an
optical modem technology called a ‘passive optical transceiver’. This later product is not included in management’s forecast but has reasonable synergies with Translucent’s Planar Wave Guide. In fact, Photonica and Translucent’s management both went to the same university, which to some extent explains the link.