|By Marketwired .||
|January 8, 2014 04:33 PM EST||
SUNNYVALE, CA -- (Marketwired) -- 01/08/14 -- Finisar Corporation (NASDAQ: FNSR), and u2t Photonics AG announced today that they have entered into an agreement under which Finisar will acquire 100% of the equity interests in u2t Photonics AG, located in Berlin, Germany for approximately $20 million in cash, subject to certain adjustments. Finisar will also assume net debt of approximately $7 million. The transaction is expected to close during the month of January, subject to the satisfaction of customary closing conditions. With this transaction, Finisar will add u2t's Indium-Phosphide (InP)-based 100G high speed receivers and photodetectors to its existing portfolio of high speed optics technologies. In addition, this acquisition will consolidate Finisar's previously announced partnership with u2t on InP-based IQ Mach-Zehnder modulators for 100G coherent applications. These receiver, photodiode and modulator technologies and products, when combined with Finisar's narrow-line width tunable lasers, will provide a full suite of optical components and enable Finisar to offer its customers vertically integrated modules for the 100G coherent metro and long haul markets. In calendar year 2013, u2t had total revenues of approximately $33 million.
"We are pleased with the acquisition by Finisar. During our collaboration to acquire the assets of COGO Optronics GmbH and develop the InP modulator technology from the Fraunhofer Heinrich-Hertz-Institute (HHI), we realized that Finisar's technical strength, ability to cost effectively commercialize technology and global access to customers and markets would combine extremely well with our industry leading technology and design capabilities. Furthermore, the acquisition provides a one-of-a-kind opportunity for our employees and innovative technologies to make a greater impact on the optical communication markets," said Andreas Umbach, CEO and Co-Founder of ut2.
"Finisar is very excited about the near term applications for the u2t technology and products for the 100G coherent telecom markets," stated John Clark, Finisar's Executive Vice President for Technology and Global R&D. "We are even more excited about the potential to use this technology to help drive data rates higher than 100 Gb/s and form factors smaller than the CFP2 module and enabling new market applications in both telecom and datacom."
Safe Harbor under the Private Securities Litigation Reform Act of 1995
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements included in this press release are based upon information available to Finisar as of the date hereof, and Finisar assumes no obligation to update any such forward-looking statements. Forward-looking statements involve risks and uncertainties which could cause actual results to differ materially from those projected. Examples of such risks include those associated with: satisfaction of the conditions to closing the transaction; the uncertainty of the successful integration of acquired business; the uncertainty of the timing and amount of expected cost savings and synergies to be achieved in connection with the acquisition; the uncertainty of customer demand for Finisar's products; the rapidly evolving markets for Finisar's products and uncertainty regarding the development of these markets; Finisar's historical dependence on sales to a limited number of customers and fluctuations in the mix of products and customers in any period; ongoing new product development and introduction of new and enhanced products; the challenges of rapid growth followed by periods of contraction; and intensive competition. Further information regarding these and other risks relating to Finisar's business is set forth in Finisar's annual report on Form 10-K (filed June 24, 2013) and quarterly SEC filings.
Finisar Corporation (NASDAQ: FNSR) is a global technology leader for fiber optic subsystems and components that enable high-speed voice, video and data communications for telecommunications, networking, storage, wireless, and cable TV applications. For 25 years, Finisar has provided critical optics technologies to system manufacturers to meet the increasing demands for network bandwidth. Finisar is headquartered in Sunnyvale, California, USA with R&D, manufacturing sites, and sales offices worldwide. For additional information, visit www.finisar.com.
About u2t Photonics AG
u2t Photonics AG, founded in 1998 and headquartered in Berlin/Germany, is the leading supplier of ultra-high speed optical components up to 100 GHz. Based on its unique and mature technology u2t develops, manufactures and markets highly competitive products for high speed communication applications and detectors with superior performance for test and measurement equipment vendors. A platform approach based on building blocks enables u2t to offer a comprehensive and fully TELCORDIA qualified portfolio supporting the requirements from transponder vendors, line card and system designers as well as test equipment vendors. u2t is ISO9001 certified and offers high quality of service.
Finisar and the Finisar logo are registered trademarks of Finisar Corporation.
Executive Vice President and CFO
+1 (408) 542-5050
Health care systems across the globe are under enormous strain, as facilities reach capacity and costs continue to rise. M2M and the Internet of Things have the potential to transform the industry through connected health solutions that can make care more efficient while reducing costs. In fact, Vodafone's annual M2M Barometer Report forecasts M2M applications rising to 57 percent in health care and life sciences by 2016. Lively is one of Vodafone's health care partners, whose solutions enable o...
Apr. 19, 2015 04:00 PM EDT Reads: 482
of cloud, colocation, managed services and disaster recovery solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. TierPoint, LLC, is a leading national provider of information technology and data center services, including cloud, colocation, disaster recovery and managed IT services, with corporate headquarters in St. Louis, MO. TierPoint was formed through the strategic combination of some of t...
Apr. 19, 2015 04:00 PM EDT Reads: 1,352
How is unified communications transforming the way businesses operate? In his session at WebRTC Summit, Arvind Rangarajan, Director of Product Marketing at BroadSoft, will discuss how to extend unified communications experience outside the enterprise through WebRTC. He will also review use cases across different industry verticals. Arvind Rangarajan is Director, Product Marketing at BroadSoft. He has over 19 years of experience in the telecommunications industry in various roles such as Softw...
Apr. 19, 2015 04:00 PM EDT Reads: 1,594
Dave will share his insights on how Internet of Things for Enterprises are transforming and making more productive and efficient operations and maintenance (O&M) procedures in the cleantech industry and beyond. Speaker Bio: Dave Landa is chief operating officer of Cybozu Corp (kintone US). Based in the San Francisco Bay Area, Dave has been on the forefront of the Cloud revolution driving strategic business development on the executive teams of multiple leading Software as a Services (SaaS) ap...
Apr. 19, 2015 03:30 PM EDT Reads: 569
SYS-CON Events announced today that Vicom Computer Services, Inc., a provider of technology and service solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. They are located at booth #427. Vicom Computer Services, Inc. is a progressive leader in the technology industry for over 30 years. Headquartered in the NY Metropolitan area. Vicom provides products and services based on today’s requirements...
Apr. 19, 2015 02:00 PM EDT Reads: 1,417
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the...
Apr. 19, 2015 12:45 PM EDT Reads: 2,041
What exactly is a cognitive application? In her session at 16th Cloud Expo, Ashley Hathaway, Product Manager at IBM Watson, will look at the services being offered by the IBM Watson Developer Cloud and what that means for developers and Big Data. She'll explore how IBM Watson and its partnerships will continue to grow and help define what it means to be a cognitive service, as well as take a look at the offerings on Bluemix. She will also check out how Watson and the Alchemy API team up to off...
Apr. 19, 2015 12:00 PM EDT Reads: 1,486
The IoT Bootcamp is coming to Cloud Expo | @ThingsExpo on June 9-10 at the Javits Center in New York. Instructor. Registration is now available at http://iotbootcamp.sys-con.com/ Instructor Janakiram MSV previously taught the famously successful Multi-Cloud Bootcamp at Cloud Expo | @ThingsExpo in November in Santa Clara. Now he is expanding the focus to Janakiram is the founder and CTO of Get Cloud Ready Consulting, a niche Cloud Migration and Cloud Operations firm that recently got acquir...
Apr. 19, 2015 12:00 PM EDT Reads: 1,100
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...
Apr. 19, 2015 12:00 PM EDT Reads: 2,085
How do you securely enable access to your applications in AWS without exposing any attack surfaces? The answer is usually very complicated because application environments morph over time in response to growing requirements from your employee base, your partners and your customers. In his session at 16th Cloud Expo, Haseeb Budhani, CEO and Co-founder of Soha, will share five common approaches that DevOps teams follow to secure access to applications deployed in AWS, Azure, etc., and the frict...
Apr. 19, 2015 11:30 AM EDT Reads: 1,432
SYS-CON Media announced today that John Treadway’s blog has exceeded 475,000 page views. John Treadway, Vice President at Cloud Technology Partners, has surpassed 475,000 page views on the SYS-CON family of online magazines, which includes Cloud Computing Journal, Internet of Things Journal, Big Data Journal, Microservices Journal, and several others. His blog home page at SYS-CON can be found at JohnTreadway.SYS-CON.com.
Apr. 19, 2015 10:15 AM EDT Reads: 1,407
SYS-CON Events announced today that Column Technologies, a global technology solutions company, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Established in 1998, Column Technologies is a leader in application performance and infrastructure management for commercial and federal markets. The company is headquartered in the United States, with a diverse and talented team of more than 350 employees around th...
Apr. 19, 2015 10:00 AM EDT Reads: 1,594
ProfitBricks has launched its new DevOps Central and REST API, along with support for three multi-cloud libraries and a Python SDK. This, combined with its already existing SOAP API and its new RESTful API, moves ProfitBricks into a position to better serve the DevOps community and provide the ability to automate cloud infrastructure in a multi-cloud world. Following this momentum, ProfitBricks has also introduced several libraries that enable developers to use their favorite language to code ...
Apr. 19, 2015 10:00 AM EDT Reads: 1,380
SYS-CON Events announced today that Blue Box has been named “Bronze Sponsor” of SYS-CON's DevOps Summit New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Blue Box delivers Private Cloud as a Service (PCaaS) to a worldwide customer base. Built on a technology platform leveraging decades of operational expertise in cloud and distributed systems, Blue Box Cloud is a managed private cloud product available in both hosted and on-prem versions. Each Blue Box ...
Apr. 19, 2015 09:45 AM EDT Reads: 712
SYS-CON Events announced today Sematext Group, Inc., a Brooklyn-based Performance Monitoring and Log Management solution provider, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Sematext is a globally distributed organization that builds innovative Cloud and On Premises solutions for performance monitoring, alerting and anomaly detection (SPM), log management and analytics (Logsene), search analytics (S...
Apr. 19, 2015 09:30 AM EDT Reads: 3,603