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Opticom lands Intel deal

Opticom's subsidiary Thin Film Electronics (TFE) has signed a new deal with American chip giant Intel Corporation, ending a negotiation process that began in mid-1999. Intel will develop new processors based on TFE's technology.

"We are extremely satisfied. Now there is a hope that Opticom skeptics will become more positive," said Opticom's chief executive Robert Keith. "We now enter phase 2, and that will last 15 to 18 months."

During this period Intel will fill TFE's coffers as well as increase development investment. The two firms will carry out further development at Intel's "wafer" factory in Hillsboro, Oregon in the USA. At the same time TFE will continue research with the new technology in their Linköping laboratory in Sweden.

Opticom also announced early on Wednesday that it had completed a private placement at NOK 330 (USD 36.87) per share to raise NOK 312 million to fund activities in its 87 percent unit Thin Film Electronics, which develops computer memory technology.

In just over a year, Opticom shares have ranged from a peak of NOK 1,040 a year ago to a low of 123 in September and have been driven by whether the company can find a commercial use for its technology. Intel is Opticom's key partner.

Opticom shares rose 60 percent Wednesday, to NOK 510 per share on the Oslo bourse, after the announcement of the Intel deal and the emission to fund TFE. In the opening seconds of trading the share price was as high as NOK 565.Opticom's subsidiary Thin Film Electronics (TFE) has signed a new deal with American chip giant Intel Corporation, ending a negotiation process that began in mid-1999. Intel will develop new processors based on TFE's technology.

"We are extremely satisfied. Now there is a hope that Opticom skeptics will become more positive," said Opticom's chief executive Robert Keith. "We now enter phase 2, and that will last 15 to 18 months."

During this period Intel will fill TFE's coffers as well as increase development investment. The two firms will carry out further development at Intel's "wafer" factory in Hillsboro, Oregon in the USA. At the same time TFE will continue research with the new technology in their Linköping laboratory in Sweden.

Opticom also announced early on Wednesday that it had completed a private placement at NOK 330 (USD 36.87) per share to raise NOK 312 million to fund activities in its 87 percent unit Thin Film Electronics, which develops computer memory technology.

In just over a year, Opticom shares have ranged from a peak of NOK 1,040 a year ago to a low of 123 in September and have been driven by whether the company can find a commercial use for its technology. Intel is Opticom's key partner.

Opticom shares rose 60 percent Wednesday, to NOK 510 per share on the Oslo bourse, after the announcement of the Intel deal and the emission to fund TFE. In the opening seconds of trading the share price was as high as NOK 565.