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Bookham Technology to Acquire New Focus

Photonics.com
Sep 2003
OXFORDSHIRE, England & SAN JOSE, Calif., Sept. 22 -- Bookham Technology plc, a provider of optical components, modules and subsystems for fiber optic communication networks, has agreed to acquire New Focus Inc., a provider of photonics and microwave solutions to non-telecom diversified markets, in a deal estimated to be worth approximately $190.5 million.

Bookham said it expects to issue approximately 84 million shares, taking into account the exercise of assumed New Focus stock options, to New Focus stockholders as consideration for the proposed acquisition. Immediately prior to the completion of the acquisition, New Focus stockholders will receive a cash distribution of approximately $140 million. This cash distribution will be funded from New Focus's existing cash balance which, as of June 29, 2003, was $252 million.

The proposed transaction, which has been unanimously approved by the boards of directors of both companies, is a continuation of Bookham’s consolidation strategy. Bookham said it expects the acquisition to increase its non-telecom business, diversify its customer base, contribute low-cost manufacturing facilities and provide significant additional cash resources.

New Focus, based in San Jose, Calif., employs approximately 200. It also has a manufacturing facility in Shenzhen, China. It produces tunable lasers, microwave RF amplifiers, optoelectronics, photonics subsystems and photonic tools for the semiconductor, defense, research, industrial, biotech/medical and telecom test and measurement industries.

For more information, visit: www.bookham.com



GLOSSARY
microwave
An electromagnetic wave lying within the region of the frequency spectrum that is between about 1000 MHz (1 GHz) and 100,000 MHz (100 GHz). This is equivalent to the wavelength spectrum that is between one millimeter and one meter, and is also referred to as the infrared and short wave spectrum.
photonics
The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...
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