Oclaro and Opnext complete merger, making Oclaro #2 in optical components, modules, and subsystems

San Jose and Fremont, CA--Oclaro, Inc. (Nasdaq: OCLR) and Opnext, Inc. (Nasdaq: OPXT) today announced shareholder approval of their merger, which closed July 23, 2012. The combined company will continue to operate under the Oclaro name, and unveiled a new logo and brand identity. Oclaro produces optical-communications and laser systems, and Opnext designs and manufactures optical modules, components, and subsystems.

"By transmitting data over fiber at increasing speeds, our customers have made possible new and fast-growing applications such as social networking, video streaming, and cloud computing," says Alain Couder, chairman and CEO of Oclaro. "The ability to control the power of lasers as a heat and energy source is transforming health-care, materials 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."

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 for the fiscal year ended July 2, 2011. The company has about 3200 employees worldwide. Oclaro brings together combined optical technology developed at companies such as Hitachi, Nortel, Alcatel, Marconi, Corning, Opnext, Bookham, and Avanex.

Oclaro produces components, modules, and subsystems that transmit, receive, and amplify light signals over fiber-optic networks; in addition, its laser diodes are used for cutting, marking, welding, heating, and illumination in the consumer electronics, industrial, and medical markets.

As previously announced, Alain Couder was named chairman and CEO of the combined company, with Opnext chairman and CEO Harry Bosco joining the board of directors. The board also includes the following independent directors: Joel A. Smith III, lead independent director; Edward Collins, director; Kendall Cowan; director; Greg Dougherty, director; Lori Holland, director; David Lee, director; Marissa Smith, director; and Bill Smith, director.