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Technology Stocks : SDL, Inc. [Nasdaq: SDLI]

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To: kalicokatt who wrote (940)	3/9/2000 1:55:00 PM
From: SJS	Read Replies (1) of 3951

CSFB on SDLI's acquisition of Queensgate Instruments __________ SDL, Inc. (SDLI-$461-Cap $14.4B-BUY) Announced Acquisition of Queensgate Instruments FY00E: $1.45, FY01E: $2.00 ú SDLI to acquire UK-based Queensgate Instruments for up to $210M; Initial payment is $3M in cash and $57M in stock with remaining $150M contingent upon financial performance in 2000 and 2001; Expect transaction to be immaterial to SDLI?s earnings per share. ú Queensgate manufactures optical network monitoring modules based on tunable laser technology; Its M-03.1000 Series Optical Performance Monitors are capable of monitoring 256 channels at 50GHz spacing over the C and L bands; The company?s DMF Series Closed-Loop Tunable Filters can tune up to 80-channels with 50GHz spacing. ú In 1999, Queensgate posted $9M in revenue and the company?s optical monitoring business increased by 70%+ for the year; Queensgate will operate as a wholly-owned subsidiary of SDLI and CEO will remain on board. ú Following the recently announced Veritech Microwave acquisition, this transaction further illustrates that SDLI?s management is focused on reaching critical mass by expanding its product portfolio through both acquisitions and internal growth; Reiterate BUY.

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