This is one of the prime examples of Europe's decline.
Instead of trying to dominate the sequencing market and gain trillions of dollars from it, they local British early stage investors were more than happy to get a 20x return on their small initial investments, and sold out to the Americans who will then make the real profit.
Here are some good articles about the company:
In 2021 the founders were awarded the Breakthrough Prize. The third person awarded was Pascal Mayer. He was apparently at Serono Pharmaceutical Research Institute at the time of development. They do have a wiki page unlike Solexa: https://en.wikipedia.org/wiki/Serono. They paid a 700 million fine in 2005 in the United States, and sold out in 2006 to Merck for 10 billion USD.
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