Avanex Corp. (AVNX) Signs Supply Agreement Extension with Alcatel-Lucent
Avanex Corporation (AVNX), a pioneer of intelligent photonics, announced that Alcatel-Lucent has extended their supply agreement for an additional three years. The Pirelli Group has also purchased the 12.4 percent stake in Avanex that was previously owned by Alcatel-Lucent. This unparalleled investment by Pirelli is evidence of Avanex's overall corporate strength that seeks to commercializes next generation photonics. Jo Major, CEO of Avanex, commented "We are pleased to have Pirelli enter the share capital of our company. Pirelli has a demonstrated history of advanced technology development, with many capabilities that are complementary to Avanex, and we look forward to future…