Lannet Data Communications Ltd.: The Irvine firm...

Lannet Data Communications Ltd.: The Irvine firm said Wednesday that it had bought a $2-million stake in Hynet Ltd., a start-up firm in Tel Aviv that is developing asynchronous transfer mode, or ATM, technology.

Lannet said that Hynet has been developing various ATM products, components and technologies since 1992. ATM technology makes it possible to send vast quantities of video, voice and computer data over the same circuits at extremely high speeds.

A spokeswoman said the investment represents a 22% equity position in Hynet.

Lannet and Hynet are developing an integrated ATM edge adapter module, code-named Pathway, that plugs into Lannet’s network equipment.