Laser Power Sells Research Operation and Microlaser Business

Laser Power Corp. of San Diego has announced that it has completed the sale of the assets of its contract research operation to Orlando, Fla.-based Schwartz Electro-Optics Inc. The operation was responsible for developing the company's projection displays and 1550-nm microlaser technologies.

Schwartz has formed Photera Technologies Inc. in San Diego to absorb the business, which will focus on the development of dense wavelength division multiplexing subsystems and high-end displays.

Laser Power also announced that it has received the final cash payment for its microlaser business. It sold the unit to Melles Griot Inc. in December 1999.