Oplink to Acquire RedClover

SAN JOSE, Calif., Oct. 23 -- Oplink Communications Inc., a provider of optical networking components and subsystem design, integration and optical manufacturing solutions, announced it has entered into a definitive agreement to acquire RedClover Networks Inc. Oplink will pay $250,000 in cash, assume certain liabilities of approximately $1.2 million and incur other costs of approximately $100,000.

RedClover Networks designs and manufactures broadband optical interface products for access, storage, metro and long haul networks. Its 10 Gb/s transponder (Transdaptor) is capable of transmission over 240 km of SMF-28 fiber without dispersion compensating fiber moduless.

Oplink said the acquisition is part of its strategy to expand its core optical competencies and strengthen its higher-level integration capabilities to serve telecom, datacom and cable TV customers.

In connection with the acquisition, Oplink said it will hire certain key Red Clover employees who will relocate to its San Jose headquarters. All manufacturing will take place at Oplink's facilities in China. The acquisition is expected to close in early November 2003 and is subject to customary conditions.

For more information, visit: www.oplink.com