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Technology Stocks : New Focus, Inc. (NUFO) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (434)	4/24/2002 7:58:38 PM
From: SemiBull	Read Replies (1) \| Respond to of 475

Finisar To Buy New Focus Passive Product Line For $12.75 Million SUNNYVALE , Calif. -(Dow Jones)- Finisar Corp. (FNSR) signed a definitive agreement to purchase the passive optical component product line from New Focus Inc. (NUFO), Santa Clara, Calif. , for $12.8 million. In a press release Wednesday, Finisar, a provider of fiber optic systems said New Focus will receive an initial payment of about $6.75 million payable in the form of Finisar common stock that will be freely tradable. New Focus will also receive royalty payments that are subject to guaranteed minimum annual payments totaling $6 million during the first three years of the agreement. The royalty payments are based on a percentage of the sales of all products that utilize the transferred technology. Additional details weren't immediately available. A Finisar spokesman said the company will employ about 25 to 30 New Focus employees. Finisar has a total work force of about 1,200. Shares of Finisar closed Wednesday at $6.50, up 9 cents, or 1.4%, on Nasdaq volume of 4.5 million shares. Average daily volume is 3.6 million shares.