JDS Uniphase Buys Lightwave

SAN JOSE, Calif., March 21 -- JDS Uniphase Corp. announced today a definitive agreement to acquire Lightwave Electronics Corp. in an all-cash transaction for $65 million.

Lightwave, based in Mountain View, makes solid-state lasers for commercial markets -- including materials processing, semiconductor fabrication and biotech. It has about 120 employees. Lightwave's mid- and high-power solid-state lasers operate in a broad range of wavelengths and are typically integrated into larger application-specific solutions by its customers.

JDS Uniphase said the acquisition is part of its strategy to expand its line of solid-state lasers and to broaden its customer base. Its current laser offering includes laser diodes, low-power solid-state lasers, high-power fiber lasers and argon-ion and helium-neon gas lasers. The company said the acquisition will significantly strengthen its portfolio in the higher-growth solid-state laser markets and expand its presence with materials processing, semiconductor and biotechnology customers for applications such as PC board via-hole drilling, wafer singulation for solar cells and LEDs, wafer inspection and alignment, memory repair and ultraviolet flow cytometry and confocal microscopy.

The acquisition, subject to customary closing conditions, is expected to be completed in the second calendar quarter of this year.

For more information, visit: www.jdsu.com