24 July 2012

Oclaro and Opnext complete merger

Optical communications and laser component, module and subsystem makers Oclaro Inc of San Jose, CA, USA and Opnext Inc of Fremont, CA, USA have announced shareholder approval of their merger (announced in late March). Opnext shareholders will receive a fixed ratio of 0.42 shares of Oclaro common stock for every share of Opnext common stock they own. The combined company will continue to operate under the Oclaro name, but has unveiled a new logo and brand identity.

“The new Oclaro boasts one of the broadest and vertically integrated product lines in the industry,” reckons chairman & CEO Alain Couder. “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,” he adds. “The ability to control the power of lasers as a heat and energy source is transforming healthcare, material 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 reckoned to be the second largest provider of optical components, modules and subsystems to the optical communications, industrial and consumer laser markets, with about $833m in combined revenues for the fiscal year ended 2 July 2011, and about 3200 staff worldwide. The firm gathers over 30 years of combined optical technology expertise from optical technology companies such as Hitachi, Nortel, Alcatel, Marconi, Corning, Opnext, Bookham and Avanex.

The firm’s portfolio of products includes components, modules and subsystems that transmit, receive and amplify light signals over fiber-optic networks to deliver a range of high-speed services in the core optical network, enterprise and data-center markets. Also, its laser diodes deliver the power needed for cutting, marking, welding, heating and illumination for applications in the consumer electronics, industrial and medical markets.

New board and management team

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

Reporting to Couder on the executive team are: Jim Haynes, president, Global Business; Yves LeMaitre, chief commercial officer; Terry Unter, chief operating officer; Kei Oki, president, Oclaro Japan Inc; Tadayuki Kanno, chief operating officer, Oclaro Japan Inc and general manager, Modules and Devices business unit; Jerry Turin, chief financial officer; Kate Rundle, executive VP, general counsel & corporate secretary; Kathy Zwickert, executive VP, human resources & communications; and Bob Quinn, chief information officer.

See related items:

Opnext stockholders approve merger; Oclaro stockholders approve one of two merger-related proposals

Oclaro and Opnext agree to merge

Tags: Oclaro Opnext

Visit: www.oclaro.com

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