Stratos Lightwave Acquires Tsunami Optics

CHICAGO, Feb. 8 -- Stratos Lightwave Inc., supplier of optical subsystems and optical components, announced it has completed its previously announced acquisition of Tsunami Optics Inc., based in Mountain View, Calif. Tsunami Optics develops and manufactures innovative fiber optic components and modules that enable the delivery of cost-effective bandwidth in metro communication networks. Tsunami's products include coarse wavelength division multiplexing (CWDM) modules, microlithographic optics, and micro-optic components.

Under the agreement, Tsunami became a wholly owned subsidiary of Stratos and the Tsunami shareholders received approximately 3.2 million shares of Stratos common stock. Stratos also assumed approximately $5.9 million of debt, plus certain expenses in connection with this transaction.

Stratos also announced that its vice president and COO, Philip W. Schofield, is resigning effective Feb. 15, to become president and CEO of Optimer Photonics Inc., Columbus, Ohio. Also, Richard C. E. Durrant has been promoted to group vice president of the company's fiber optic products business; Luis Torres was promoted to director of technology, optoelectronics products; Kenneth R. Marchman was promoted to director of advanced products; and Andy Mehta has joined the company as general manager, optical subsystems.