20070118 News Release
Boston Applied Technologies and Nanjing IDEA Jointly Announce the Formation of Joint Venture - Nanjing iOptron Scientific
Woburn, MA and Nanjing, China, January 18, 2007 - Boston Applied Technologies, Incorporated (BATi) and Nanjing IDEA S&T Co. Ltd, (IDEA) jointly announced today that they have completed formation of the joint venture company, Nanjing iOptron Scientific, Inc.
IDEA has transferred its complete production lines of GoToStar™, GoToNova™, and SmartStar™ intelligent auto-tracking telescope systems to Nanjing iOptron Scientific, while BATi has moved its state-of-the-art 3D optical profiler system and optical coherent tomography (OCT) system to the newly formed unit for immediate production.
On the same day, iOptron's major R&D center and business development front, iOptron Corporation, also started operation in the United States. With the combined core competences of IDEA and BATi, and business operations uniquely adapted to both China and USA, iOptron would be one of the most competitive companies in the industry.
"With many years' development efforts and a group of industry pioneers, Nanjing iOptron is ready to take off from a leveraged starting point," said Mr. Ning Xu, the former President of IDEA, currently the President of Nanjing iOptron.
BATi was formed in 2002 by the key management and technical team formerly with Corning Applied Technologies, a subsidiary of Corning Incorporated. BATi's basic technology (Materials Division) includes state-of-the-art OptoCeramic® materials for solid-state light controlling devices and systems. BATi's Photonics Division combines its expertise in optics, fiber-optics, and packaging to produce low cost and high performance photonic products for applications ranging from fiber optic communications to optical sensors and instrumentations. BATi's technology is protected by 25 US and international patents and 15 patent disclosures.
Nanjing Idea S&T Co. Ltd is a private high tech company formed in 1994. Located in Nanjing, China, the company has earned its fame from the GoToStar™ (now GoToNova™) intelligent auto-tracking telescope system, and thus became the only Chinese brand competing in the global market with technological and economical advantages. Another key product of IDEA, NCY-4 viscosity meter, has an 80% market share in China. IDEA's technology and business are protected by numerous patents and patent disclosures, trademarks and software licenses.