news digest ♦ Telecoms
Opnext and Oclaro merger to be investigated
The investigation centres on whether Opnext shareholders are receiving adequate compensation for their shares in the buyout
Ryan & Maniskas, LLP is investigating potential claims against the board of directors of Opnext, Inc. concerning possible breaches of fiduciary duty and other violations of law related to the Company’s efforts to sell Opnext to Oclaro, Inc. in a transaction valued at approximately $177 million.
The investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval of the transaction by the Company’s board of directors. In particular, it centres on whether Opnext undertook a fair process to obtain fair consideration for all shareholders of Opnext.
Under the terms of the agreement, Opnext shareholders will receive a fixed ratio of 0.42 shares of Oclaro common stock for every share of Opnext common stock they own.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
Oclaro and Opnext to merge
The unison of the telecom and datacom innovators hopes to create a new leader in the fast-growing optical components and modules market, which is forecast to reach $9.2 billion in 2015
Oclaro and Opnext have entered into a definitive agreement to merge in an all-stock transaction.
Under the terms of agreement, Opnext shareholders will receive a fixed ratio of 0.42 shares of Oclaro common stock for every share of Opnext common stock they own.
The Oclaro and Opnext merger is expected to mark a major transformation in the optical industry, bringing together over 30 years of combined telecom and datacom optical technology innovation. The merger aims to create a new industry leader in the fast-growing optical components and modules market, forecast to reach $ 9.2 billion in 2015.
RFMD powers flagship LG
smartphones LG’s Optimus 4X HD Android 4.0 Smartphone and Optimus 3D Max feature multiple RFMD components
LG has selected RFMD to supply multiple components to support its LG Optimus 4X HD and the Optimus 3D Max smartphones. Both of these smartphones are anticipated to be available globally in 2012. The LG Optimus 4X HD features a 4.7-inch HD display (1280 x 720), Android 4.0 “Ice Cream Sandwich,” a quad-core 1.5 GHz processor, 21 Mbps HSPA+ performance, front (1.3 MP) and rear (8 MP) cameras, and dual-band Wi-Fi connectivity, all encased within 8.9 mm. The LG Optimus 3D Max features a dual-core 1.2 GHz processor, 8 GB of storage, a 5 MP dual-lens camera, Android 2.3 “Gingerbread,” and LG’s “exclusive brightened” WVGA 4.3-inch display, all housed in a compact 9.8 mm shell. The RFMD components enabling LG’s flagship smartphones include the company’s PowerSmart power platform, and its RF5501 802.11 b/g/n Wi-Fi front end module. RFMD says its PowerSmart features a revolutionary RF Configurable Power Core that delivers multiband, multi-mode coverage of all cellular communications modulation schemes, including 4G, up to LTE 64QAM. The RF5501 Wi-Fi front end module is claimed to satisfy smartphone and tablet manufacturers’ requirements for aggressive size reductions in 802.11b/g/n front end solutions, whilst delivering high linear output power and reduced component count. Bob Bruggeworth, president and CEO of RFMD, says, “RFMD is pleased to expand our relationship with LG and support these flagship smartphones with our industry- leading cellular and Wi-Fi components. RFMD’s PowerSmart
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www.compoundsemiconductor.net April/May 2012
The broad product portfolio, technology innovation, engineering resources, cost structure and strategic customer relationships of the combined company are expected to expand its opportunities for growth and to create long-term shareholder value.
Data-intensive applications such as video and cloud computing, and the proliferation of mobile devices, are driving the need for increased performance and bandwidth throughout the core optical networks, at the heart of the world’s Internet traffic. These trends are also forcing enterprises and data centres to upgrade and deploy new data communications infrastructures.
As a result, traditionally separate telecom and datacom networks are converging, leveraging advanced optical networking technologies from companies such as Opnext and Oclaro.
The combined company will be well positioned to capitalise on these trends to become the No. 1 supplier to the core optical networks with a strong leadership position in the fastest- growing 40 G and 100 G segments. According to the Ovum OC Forecast, thismarket is expected to grow at a CAGR of 42 % through 2015. The broader product line resulting from the merger strengthens the combined company’s position as a key supplier to existing and new customers.
“This merger clearly will be a unique and transformational opportunity for both Oclaro and Opnext,” says Alain Couder, chairman and CEO, Oclaro. “Our respective customers want to work with fewer, more strategic suppliers who can deliver the breadth of technologies they need. Through this merger, the companies’ complementary and vertically-integrated product portfolios, scale, and heritage of technology innovation will put the merged company in that valued strategic partner and leadership role. By doing so, and at the same time saving
power platforms continue to lead a product category that is reshaping the future of multimode, multi-band cellular RF architectures, and we anticipate sequential growth in PowerSmart shipments throughout the calendar year.”
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