Oclaro And Opnext Finalise Merger
Telecom and datacom businesses hope to create a new leader in the optical industry
Optical communications provider, Oclaro, and optical module designer, Opnext, both of the US, have announced shareholder approval of their merger, which closed July 23, 2012.
The combined company will continue to operate under the Oclaro name.
"The new Oclaro boasts one of the broadest and vertically-integrated product lines in the industry. Our vision is that the power and speed of light will change the way we live and work," said Alain Couder, chairman and CEO, Oclaro. "By transmitting data over fibre at increasing speeds, our customers have made possible new and fast growing applications such as social networking, video streaming, and cloud computing."
“The ability to control the power of lasers as a heat and energy source is transforming healthcare, material processing and consumer electronics. Through this merger, we have assembled the optical technologies, products and expertise at the heart of this new world of innovation," he adds.
Oclaro is now the second largest provider of optical components, modules and subsystems to the optical communications, industrial and consumer laser markets, with approximately $833 million in combined revenues and around 3,200 employees worldwide.
Alain Couder is the named chairman and CEO of the combined company, with Opnext Chairman and CEO Harry Bosco joining the board of directors.
Opnext shareholders will receive a fixed ratio of 0.42 shares of Oclaro common stock for every share of Opnext common stock they own.
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