Uniphase to acquire Indx

Uniphase Corp. (San Jose, CA) signed a definitive agreement to acquire fiber-Bragg-grating manufacturer Indx (Sydney, Australia) for $6.1 million. The company expects to take a charge in the second quarter, ending December 31, 1997, for in-process research and development in connection with the acquisition. The charge was estimated at between $0.15 and $0.20 a share on the presplit basis. The company held a 2-for-1 stock split in mid-November. Under the agreement, Indx will operate as a unit of

Uniphase to acquire Indx

Uniphase Corp. (San Jose, CA) signed a definitive agreement to acquire fiber-Bragg-grating manufacturer Indx (Sydney, Australia) for $6.1 million. The company expects to take a charge in the second quarter, ending December 31, 1997, for in-process research and development in connection with the acquisition. The charge was estimated at between $0.15 and $0.20 a share on the presplit basis. The company held a 2-for-1 stock split in mid-November. Under the agreement, Indx will operate as a unit of Uniphase. The acquisition will be accounted for as a stock purchase and is subject to regulatory approval and an amendment to an existing licensing agreement between Indx and its former sole shareholder.

More in Research