GXC Agrees to Sell Photonics Division to ORCA Computing

Dow Jones Industrial Average +0.34%
S&P 500 index +0.12%
Vodafone Group Plc Sponsored ADR -0.10%
NASDAQ -0.07%

Vodafone Group Plc Sponsored ADR

VOD

9.79

-0.10%

Dow Jones Industrial Average

DJI

40003.59

+0.34%

S&P 500 index

SPX

5303.27

+0.12%

NASDAQ

IXIC

16685.97

-0.07%

Divestiture Enables Company to Focus on its Lucrative Private Cellular Operations

AUSTIN, TX / ACCESSWIRE / January 30, 2024 / GXC (www.gxc.io), a leading provider of private cellular network solutions, announced it has reached an agreement to sell its Photonics Division to ORCA Computing, a London-based developer of full-stack quantum computing systems. As a result of the sale, GXC will transfer its photonics-related assets to ORCA Computing, including intellectual property and existing technology. GXC Photonics staff will become employees of ORCA Computing. Terms of the deal were not disclosed.

With the divestiture, GXC will focus all its resources on expanding its presence in the private cellular space. The company is a recognized leader in the development of private cellular solutions for enterprise applications, serving logistics, agriculture, manufacturing, industrial, and other markets throughout North America. GXC's patented offerings enable businesses to expand coverage, improve resiliency and security, and control business-critical corporate data. The company's Onyx platform provides a true turnkey private cellular system that powers secure, ubiquitous coverage for industrial campuses. In addition, GXC is the only private cellular network provider that offers a mesh cellular capability, enabling customers to extend reliable coverage into remote areas utilizing its advanced interference cancellation technology.

"We are extremely grateful to the talented photonics team that created groundbreaking technology and innovative manufacturing processes that are valued by numerous federal agencies and other organizations," said Allen Proithis, chief executive officer of GXC. "As customer needs and market opportunities continue to evolve, our board agreed it would be best for our photonics group-and the company as a whole-to identify an organization that is best suited to optimize this technology. We have found an excellent partner in ORCA Computing, and have every expectation that they will provide the resources and guidance to help the team reach their fullest potential."

Founded in 2019, ORCA Computing provides full-stack photonic quantum computing systems that address complex business and science applications. The company is headquartered in London, UK, with offices in the U.S., Canada, and Poland. Customers include the UK Ministry of Defense and the Poznan Supercomputer and Networking Center in Poland.

"GXC's work in photonics has been exceptional and opens the door to exciting new innovations in a wide range of industries and sectors," said Richard Murray, Ph.D., Co-founder and CEO of ORCA Computing. "We are delighted to welcome these talented individuals to the ORCA Computing team and look forward to working closely with them to bring exciting new technologies to market."

To learn more about GXC and its groundbreaking 5G cellular mesh architecture for enterprises, please visit www.gxc.io.

About GXC

Founded in 2016, GXC is an Austin, Texas-based company that provides groundbreaking private cellular network solutions for enterprises. Through its turnkey advanced technology platform, GXC Onyx, the company delivers comprehensive connectivity both indoors and out, enabling highly secure, resilient, and scalable coverage that supports critical business operations in manufacturing, logistics, transportation, agriculture, and other commercial venues. GXC is the only provider to offer private cellular mesh technology, building this capability based on years of advanced research. The company partners with leading technology providers and systems integrators to ensure that each system is professionally deployed and meets the expectations of sophisticated enterprises. Follow us on LinkedIn and X and contact us here for inquiries.

GXC Contact:

PR Contact
Glenn Goldberg
Parallel Communications Group
516-705-6116
𝕏: @Parallel_PR
ggoldberg@parallelpr.com

SOURCE: GXC



View the original press release on accesswire.com

Every question you ask will be answered
Scan the QR code to contact us
whatsapp
Also you can contact us via