The Board of Bookham Technology has entered into an agreement to acquire the business of Marconi Optical Components (MOC) Limited, a wholly owned subsidiary of Marconi, in exchange for 12,891,000 ordinary shares in Bookham.
This is equivalent to approximately 9.999% of the current issued share capital of Bookham.
Based on the mid-market closing share price of Bookham on December 14th 2001 the acquisition has a value of approximately £19.7 million.
The acquisition is conditional upon the approval of Bookham shareholders.
MOC designs, manufactures and supplies active optical components. Based in Caswell, Northamptonshire, UK, MOC’s products include fixed and tunable lasers, high speed gallium arsenide modulators, transmitters, receivers and erbium doped fibre amplifiers (EDFAs).
By integrating MOC’s active components with its own solutions, Bookham expects to accelerate its development of more highly integrated optical components.
As part of the acquisition, Marconi has agreed to purchase a minimum of £30 million worth of components from Bookham to meet the needs of its core business operations over the next eighteen months.