Lucent Technologies Inc has invested $10m for a 10% stake in Chip Express. Chip Express develops advanced products that reduce the turn-around time for chip production enabling significant cost savings. The deal with Lucent values Chip Express at $100m and will give it significant kudos. At the same time Chip Express will have access to Lucent’s client base which should lead to a significant rise in sales. Chip Express was set up in 1989 in Santa Clara, California. The Israeli Elron group bought 40% of the company in the early 1990’s for $4.5m. Another 11% is owned by Morgan Stanley.
