Pirelli Group Takes Stake in Avanex
October 29, 2007
Avanex Corp. said Monday the Pirelli Group has purchased a 12.4 percent stake in the company previously held by Alcatel-Lucent Corp.
Fremont-based Avanex (NASDAQ:AVNX), which focuses on photonics to enable next-generation optical networks, did not disclose financial terms of the deal.
Avanex also said Alcatel-Lucent (NYSE:ALU) extended a previous supply agreement for an additional three years.
The Pirelli Group is based in Milan, Italy.