Tuesday, May 6, 2008

Arrowhead Research Sells Subsidiary

Pasadena-based Arrowhead Research said today that it has sold Aonex Technologies, a majority owned subsidiary of the firm, to AmberWave Systems. According to ArrowHead, AmberWave will pay $7.95M plus royalties for Aonex. Aonex is a Caltech spinoff commercializing material integration technology for the solar cell manufacturing industry. Arrowhead said that AmberWave will take over its Pasadena operations, and Aonex founder Dr. Harry Atwater will continue to support the development of the technology. AmberWave is based in Salem, NH.

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