3S Photonics and Avanex reach settlement

July 15, 2008--Dispute over premature termination of 3S Photonics exclusive distribution agreement with Avanex ends with settlement.

July 15, 2008--Manufacturer of laser chips, optical discrete modules, and components for telecommunication networks, 3S Photonics (Marcoussis, France), and Avanex (Fremont, CA), provider of photonics network solutions, today announced resolution of their contractual disputes. Avanex filed a contract dispute in Dec. 2007, alleging premature termination of the exclusive distribution agreement with 3S Photonics.

While neither side admits liability, the two parties have agreed to a settlement on payables, receivables, and a release by both parties of all claims asserted against each other, including the dismissal of legal actions taken in New York, California, and the Commercial Court of Evry, France. With this resolution there will be no further litigation between 3S Photonics and Avanex.

"3S Photonics is satisfied to have reached this settlement. We plan new business opportunities and are looking forward to starting a new collaboration with Avanex," said Alexandre Krivine, chairman and CEO of 3S Photonics.

Dr. Giovanni Barbarossa, Avanex's interim CEO commented: "Avanex is pleased to have reached this agreement with 3S Photonics to put this matter behind us. We look forward to working with 3S Photonics again in the future."

3S Photonics, formerly Alcatel Optronics, supplies optical discrete modules for telecommunication networks. It designs, develops, manufactures, and commercializes active components powered by in-house III-V optoelectronic chips based on both gallium arsenide and indium phosphide technologies and passive components using fiber Bragg gratings. The product portfolio includes lasers, detectors, filters, and other components for terrestrial and submarine applications.

Avanex provides optical wavelength multiplexing, dispersion compensation, switching and routing, transmission, amplification, and other components for next-generation networking systems, including network-managed subsystems.

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