Telecoms ♦ news digest
significant costs, we also expect to generate substantially more long-term value for shareholders than either company could deliver alone.”
In addition to the telecom and datacom markets, there is a large and growing opportunity for laser diodes in a range of high-growth industrial and consumer markets. Through this transaction, the combined company says it will be the largest supplier of laser diodes for industrial and consumer applications. With a substantial portfolio of products and technologies, the combined company is well positioned to accelerate innovation and inroads into these high-volume markets.
The combined heritage of Oclaro and Opnext comes from some of the leading optical technology innovators over more than 30 years, including Hitachi, Nortel, Alcatel, Marconi, Corning, Opnext, Bookham and Avanex.
“Opnext and Oclaro share a rich history bringing to market some of the industry’s most advanced optical technology innovations over more than three decades,” comments Harry Bosco, chairman and CEO, Opnext.
“I am excited by the unique opportunity that will be created by this combination for customers, shareholders and for the employees of the merged company, who will leverage this deep legacy of technology innovation to lead the optical components and modules market and to achieve critical mass in the industrial and consumer laser diode segments” , he continues.
The combined company will be led by Alain Couder, who will serve as chairman and CEO. Upon closing, Harry Bosco will join the combined company’s board of directors.
Transaction Details
Upon the close of the transaction, Opnext shareholders will own approximately 42% of the combined company.
The combined company is expected to achieve positive non- GAAP operating income in the first full quarter after the close and is expected to achieve annualised cost synergies of $35 million to $45 million within 18 months of the close of the transaction. The company expects restructuring and system integration costs to total $20 million to $30 million.
The transaction is subject to customary closing conditions, including approval by the shareholders of both companies and the receipt of regulatory approvals in the U.S., and is expected to close within three to six months.
Oclaro and Opnext will each be filing the full text of the merger agreement with the Securities and Exchange Commission (the “SEC”) on Form 8-K in the next couple of days. Investors and security holders of each company are advised to review those filings for the full terms of the proposed combination, as well as any future filings made by the companies, including the Form S-4 Registration Statement and related Joint Proxy Statement/ Prospectus.
The management teams of both companies hosted a conference call discussing the agreement. An audio replay of the conference call was available until April 2, 2012, 11:59 pm Eastern Time. The replay may be accessed by dialling 1-858-
384-5517 using pin 4527215.
Odis achieves milestone in
GaAs POET technology A breakthrough in gallium arsenide technology should enable Odis to take the first step in realising a single device capable of interconnecting multiple processors
Opel Technologies Inc. and Odis Inc., collectively known as “Opel”, have made progress this quarter regarding POET technology to advance optical interconnection of high speed circuits.
Odis’ recent achievements, when successfully added to the POET platform under development, will make it possible to implement an optical interface as a single chip to connect existing CMOS processors.
The ongoing steps in the POET technology development have made it possible to produce a well defined military and commercial roadmap for POET.
ODIS’s optical interface chip will integrate a laser, optical modulator, modulator driver, detector, receiver amplifiers, SerDes, CDR and PLL circuits monolithically on a single chip. Opel says this breakthrough, utilising III-V GaAs technology, is the first step in achieving a single device capable of interconnecting multiple processors by waveguide and/or fibre to transport ultra-high speed signals.
This development should substantially simplify chip packaging.
What’s more, the optical interface chip bandwidth supports large data rates of greater than 100Gb/s for CMOS processor interconnects without the additional power otherwise required with conventional electrical i/o (input/output).
The new roadmap will outline the process for speed-to-market devices, capital requirements and monetisation opportunities in the commercial and defence technology markets.
Telstra the 100th customer to
deploy Infinera’s InP PICs The global supplier of network and hosting services, will use Infinera’s coherent 40 Gbps DTN solutions based on indium phosphide, for the optical subsea network in the Asia Pacific region
Telstra International, has become Infinera’s 100thcustomer and has deployed Infinera’s 40 gigabits per second (Gbps) DTN solution for its optical subsea network in Asia.
The deployment spans approximately 9,000 km between Hong Kong, Taiwan, Japan and South Korea. Telstra says it selected Infinera’s DTN solution for its simplicity, scalability and cutting
April/May 2012
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