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JDSU To Buy Picolight In Cash And Stock Deal

JDSU has agreed to buy VCSEL manufacturer Picolight for $115 million in stock and up to $10 million in cash.

JDSU has entered into an agreement to buy Picolight, a manufacturer of optical pluggable transceivers based on 850 nm and 1310 nm VCSELs.

The deal, which should be completed during the quarter ending June 30, 2007, involves $115 million of JDSU stock and additional cash of up to $10 million. The cash payments depend on the fulfillment of revenue targets during calendar 2007.

JDSU believes that the acquisition of Picolight, which is based in Louisville, CO, will strengthen its ability to address the market for optical interconnect applications in datacenter, enterprise, storage area and metro networking markets.

The market for 10 Gigabit Ethernet optical components used by enterprise-focused network equipment manufacturers, which includes pluggable transceivers, is expected to grow from $200 million in 2006 to over $650 million in 2010, according to the analysts LightCounting.

"By adding Picolight's vertically integrated VCSEL-based transceivers, JDSU will offer our enterprise customers an even broader product portfolio to address the steep demand for reliable data management and delivery," remarked Mike Ricci, senior vice president of JDSU's optical communications group.

"We will also provide our customers a clear pathway and solid foundation to scale to 100 Gigabits in the future," he added.

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