Lumera Corporation Announces Agreement to Develop Millimeter Wave Communication Systems with Asyrmatos, Inc.

Lumera Corporation (NASDAQ:LMRA), a leader in the field of photonic communications, announced today that it had entered into an agreement with Asyrmatos Inc., a privately held Boston-based company, to develop telecommunication products that will be enabled by Lumera’s millimeter wave communication technology. Under terms of the agreement, Lumera will acquire twenty-five percent (25%) ownership of the privately held company in exchange for the intellectual property associated with the technology. In addition to a seat on Asyrmatos’ board of directors, Lumera also has an option to acquire the outstanding stock of Asyrmatos in 2012.

Source: Lumera