JDSU buys Lightwave Electronics for $65 million
March 21, 2005, San Jose, CA--JDS Uniphase signed a definitive agreement to acquire Lightwave Electronics for $65 million in cash as part of JDSU's strategy to expand its solid-state laser product line.
March 21, 2005, San Jose, CA--JDS Uniphase signed a definitive agreement to acquire Lightwave Electronics for $65 million in cash. According to JDSU, the deal is part of its strategy to expand its product line of solid-state lasers and broaden its customer base in growing laser markets.
Founded in 1984, Lightwave is a privately held provider of solid-state lasers for commercial markets, including materials processing, semiconductor fabrication, and biotech. The company has about 120 employees and is headquartered in Mountain View, CA. The acquisition, subject to customary closing conditions, is expected to be completed in the second calendar quarter of this year.
"This acquisition reinforces our commitment to the OEM laser business and is in line with our strategy to invest in profitable, growing markets," said Hoss Christensen, vice president of JDS Uniphase's Lasers, Optics and Display Product Group.
According to the companies, Lightwave is a market leader in mid- and high-power solid-state lasers operating in a broad range of wavelengths. These products are typically integrated into larger application-specific solutions by Lightwave's customers.
"The customer demand for high-performance, precision lasers is driving our growth," said Phillip Meredith, president and CEO of Lightwave Electronics. "The combination of Lightwave's product portfolio and technology with JDS Uniphase's broad range of commercial lasers, strong optical base, industry-leading manufacturing capabilities, and financial strength positions us well to provide exceptional market responsiveness."