Bookham Technology, the UK-based developer of optical components, modules and subsystems for fibre optic communication networks, is to acquire San Jose, CA-based New Focus, a manufacturer of tunable lasers, microwave RF amplifiers, optoelectronics, photonics subsystems and photonic tools.
Bookham will acquire the company in a share-for-share deal that is valued at approximately £117.6 million ($190.5 million).
The purchase of New Focus is expected to increase Bookham’s non-telecom business, diversify its customer base, contribute low cost manufacturing facilities and provide significant additional cash resources.
New Focus itself employs approximately 200 people at its San Jose facility; it also has a manufacturing facility in Shenzhen, China.
The company had a market capitalisation of approximately £163 million ($265 million) on September 19, 2003, reported sales of £7.8 million ($12.4 million) and a net loss of £7.7 million ($12.3 million) for the six months ended June 29, 2003. The net loss included £1.4 million ($2.1 million) in restructuring charges.