Buying optical filters

UK-based Bookham Technology has acquired the business and assets of Cierra Photonics in a deal worth approximately £2.25 million.

UK-based Bookham Technology has acquired the business and assets of Cierra Photonics.

Based in Santa Rosa, CA, Cierra Photonics designs and manufactures thin-film filters and other components for the fibre optic telecommunications industry. The company’s Advanced Energetic Deposition (AED) technology is a specialised process for wafer-scale deposition of extremely well-controlled films.

Cierra Photonics was issued 3,071,484 new ordinary shares in Bookham Technology as the consideration for the acquisition. Based on the closing price of the ordinary shares of Bookham on July 3, 2003, the deal was valued at approximately £2.25 million.

Subject to the satisfactory fulfilment of specific sales milestones over the next two years, a potential further 4,200,000 ordinary shares in Bookham Technology could be issued to Cierra Photonics.

The two companies had formed close ties last year, when Bookham signed a deal to become the exclusively distributor of Cierra’s range of optical channel filters in Europe.