A provider of broadband and optical products, JDSU of Milpitas, Calif., has agreed to acquire Picolight Inc., a designer and manufacturer of optical pluggable transceivers. Under terms of the agreement, JDSU will purchase the Louisville, Colo., company for approximately $115 million in JDSU stock and up to $10 million in cash, subject to the achievement of certain revenue goals in 2007. With the addition of Picolight’s pluggable optics technology, JDSU expects to strengthen its presence in the market for optical interconnect applications in the data center, enterprise, storage area and metropolitan networking sectors.

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