April 4, 2005 Marlborough, MA -- Axcel Photonics, has announced the sale of the company to Dr. J. Jim Hsieh, the founder of Lasertron and a pioneer in the field of fiber-optic lasers, according to a press release. Dr. Hsieh, who will also step in as the company's CEO, has appointed Frank Hsieh as executive vice president in charge of sales and marketing. Dr. Wei Gao, founder of Axcel Photonics, will continue his duties as the company's president.
"We plan to position Axcel as the world's leading manufacturer of high power diode lasers in terms of performance, reliability, and quality," says Dr. Hsieh. "Axcel has the technology to produce extremely high-power products. The next step is to make these readily available in the marketplace."
"With the industry's founding father as the company's leader, investor, and visionary, we are poised to set the standard for the next generation of products," declares Dr. Gao. "His forty-plus years of semiconductor experience, no-nonsense business approach, and tremendous respect and credibility among industry peers puts us in very good hands."
"Other key employees will also own a share of the company, making it one of the few laser component companies that is wholly owned by its management and personnel," adds Frank Hsieh. "The company will thus be able to concentrate on building long-term relationships with customers and focus on meeting their needs, rather than feeling pressure to meet quarterly sales targets."