JDS Uniphase Closes Merger with E-TEK Dynamics

NEPEAN, ONTARIO, and SAN JOSE, CA, June 30 -- JDS Uniphase Corporation, a supplier of products for the fiber-optic communications market, and E-TEK Dynamics, Inc., a manufacturer of fiber-optic components, have announced the completion of their merger. As a result, each outstanding share of E-TEK stock is exchanged for 2.2 shares of JDS Uniphase common stock, and E-TEK is now a wholly-owned subsidiary of JDS Uniphase. The transaction was valued at approximately $15 billion.

The two companies expect the merger to enable a more rapid scaling of operations, bringing greater volume and a broader range of products to customers faster. Another expected benefit will be the combination of E-TEK’s packaging technology and capacity with JDS Uniphase’s optical filter capability and supply.

"The combination of JDS Uniphase and E-TEK creates a company with all of the elements needed to be the volume supplier of optical components and modules for our customers: broad product breadth, world-class research and development, worldwide manufacturing capability, and high quality standards," said Jozef Straus, JDS Uniphase chairman and CEO.

Sanjay Subhedar, E-TEK's chief operating officer and chief financial officer, will assume the role of president and general manager of the E-TEK business unit reporting to Charles J. Abbe, JDS Uniphase president and chief operating officer. Michael Fitzpatrick, E-TEK's chairman and CEO, will remain with the company as advisor during the integration process. Donald J. Listwin, a director of E-TEK, will join the JDS Uniphase board of directors.

PTB Home