MURRAY HILL, N.J., April 9 -- Lucent Technologies and Siros Technologies Inc. have formed a multi-million-dollar alliance to develop new types of optical disk systems able to provide a ten-fold increase in data storage density over today's magnetic disk drives.
Under this alliance Siros will acquire from Lucent exclusive rights to certain optical storage patents and intellectual property, as well as lab equipment and cash. Lucent will receive an undisclosed equity stake in Siros, a seat on its board of directors, and further investment by several existing Siros stockholders. Siros is a privately held Silicon Valley company specializing in ultra-high capacity optical data storage systems for the information management industry.