Avanex Corp. of Fremont, Calif., has sold its subsidiary Avanex France SA to its director, Didier Sauvage, and to Global Research Co., held by Alexandre Krivine. Based in Marcoussis, France, the subsidiary, formerly Alcatel Optronics, has been renamed 3S Photonics. The newly formed company develops and manufactures optical modules and components for telecommunications networks. Its optoelectronics chip manufacturing plant in Nozay brings together GaAs and InP technologies.

Avanex Corp. paid the purchasers nearly $17.3 million in anticipated operating capital, including current liabilities for previous restructuring activities. It maintains a 10% interest in the sold businesses as well as privileged commercial partnerships. It also has retained the optical interface activity previously carried out in France.