Ibsen Photonics has been created following a management buy-out of ADC Denmark and a USD 15 million cash injection from European venture capitalists 3i and Dansk Kapitalanlæg Aktieselskab.
The sell-off is part of ADC's restructuring program, which will see the company focus on broadband access technologies and its core broadband connectivity and systems integration activities. It has also sold its Enhanced Services Business Unit to signalling-technology company SS8 Networks.
Ibsen says that it was happy to be part of ADC, but the alternative to a management buy-out was probably closure. "It has been a fantastic time; we have benefited a lot from the association," said vice-president of sales and marketing Dirk Jesson. "We were top-heavy in research and development [before ADC]. Now we have gained invaluable manufacturing and operational expertise to bring our products to market."
Jesson sees the company's expertise in developing phase masks as a strong foundation to move the business forward into new applications, which include a dense wavelength-division multiplexing channel power module based on diffractive gratings.
Ibsen Photonics managed to win funding and complete the buy-out in around three months, which Jesson believes was a vital factor for the company to keep the 71 experienced employees on board. The ADC Denmark management team will remain in place, and company founder Per Ibsen will join as vice-president of business development.