SAN JOSE, Calif.--(BUSINESS WIRE)--Nov. 30, 1998--Uniphase
Corporation (NASDAQ:UNPH) announced today that it has acquired
Broadband Communications Products, Inc. (BCP) of Melbourne, Fla.
BCP designs, develops, manufactures and markets high-performance,
fiber optic transmitters and receivers and test instrumentation for
manufacturers of telecommunications systems and related equipment.
Broadband Communications Products will be operated as a business
unit of Uniphase under the name of Uniphase Broadband Products. BCP
has 79 employees, including 25 professionals engaged in research and
development and other engineering functions. The firm manufactures
high-speed and high-bandwidth fiber optic products including
transmitters, receivers and multiplexers used to extend the reach of
fiber optic transmission into metropolitan and local access networks.
These products are sold to manufacturers of telecommunication systems
and related equipment. BCP also manufactures similar products for
telecommunications test instrumentation systems.
BCP is delivering products providing high-bandwidth analog RF and
digital transceivers that are tolerant of harsh environments and
capable of adjusting to various bit-rates up to 10 gigabit per second.
These products include transceivers for SONET/SDH capable of
OC-48/STM-16 speeds over the temperature range of -40 degrees to +85
degrees, permitting installation in non-temperature controlled
environments that are common in access networks. They also manufacture
gigabit Ethernet extenders. The firm's web site is www.bcpinc.com.
"This acquisition provides Uniphase with an extension of our
broad component portfolios and the ability to offer more complete
solutions for our customers in the telecommunications industry," said
Kevin Kalkhoven, Uniphase Chairman and Chief Executive Officer. "We
believe that the business fits well into our existing product lines
and distribution strategy and provides excellent opportunities for
future revenue growth. In addition, with BCP we see a number of
opportunities to extend our future product development activities as
we look to provide more integrated products to our customers."
"BCP is extremely pleased to become part of Uniphase," said Dr.
Allen Henry, BCP CEO. "We believe that the financial, technical and
distribution resources of Uniphase can enable us to capitalize on the
rapidly growing demand for high-speed high-bandwidth equipment used in
metropolitan and local telecommunication markets."
As consideration for all of BCP's outstanding shares and other
securities, Uniphase issued a total of approximately 730,000 shares
and assumed options for an additional 418,000 shares of Uniphase
common stock. The acquisition will be accounted for as a pooling of
interests, and Uniphase will report consolidated results for the
current quarter ending December 31, 1998 and restate prior periods on
a consolidated basis to reflect this acquisition. The negotiated
purchase price includes approximately $5,500,000 in transaction costs
that will result in a charge in the current quarter. These transaction
costs consist primarily of fees incurred by BCP and payable to their
financial advisors in connection with the acquisition.
Uniphase Corporation is an optoelectronics company that designs,
develops, manufactures and markets fiber optic telecommunications
components and modules, laser subsystems and laser-based semiconductor
wafer defect examination and analysis equipment. The Company's
telecommunications products include semiconductor lasers, high-speed
external modulators, transmitters, fiber Bragg gratings and optical
modules for fiber optic networks in the telecommunications and cable
television industries. The Company's laser division produces laser
subsystems for a broad range of OEM applications which include
biotechnology, industrial process control and measurement, graphics
and printing, and semiconductor equipment. The Company's Ultrapointe
systems are advanced laser-based systems for semiconductor wafer
defect examination and analysis.
Uniphase employs approximately 1,000 people worldwide and is
headquartered in San Jose, Calif. Its stock is traded on the Nasdaq
National Market under the symbol UNPH. The Uniphase website address is
www.uniphase.com.
Uniphase will be holding a conference call at 5:00 p.m. EST
today, Monday, Nov. 30, 1998 to provide background information
regarding this acquisition. The call-in number for this call will be
800/288-8974.
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