JDS Uniphase and E-TEK will merge

17 Jun 2002

The fibre-optics components giants JDS Uniphase and E-TEK Dynamics will merge in an agreement valued at approximately USD 15 billion, based on January 14 2000 closing stock prices.

In the merger agreement, 1.1 shares of JDS Uniphase stock will be exchanged for each common share of E-TEK. Following completion of the transaction, E-TEK will operate as a wholly owned subsidiary of JDS Uniphase.

JDS Uniphase and E-TEK Dynamics anticipate that the merger will enable a more rapid scaling of operations and less inefficiencies in the supply chain. One of the expected benefits will be the combination of E-TEK's packaging technology and capacity with JDS Uniphase's optical filter capability and supply that has been enhanced by its pending merger with OCLI.

E-TEK, of San Jose, CA has approximately 2,450 employees and reported revenues of USD 72.5 million in its second quarter ended January 1, 2000. JDS Uniphase, of San Jose, CA and Nepean, Ontario has over 8,200 employees and reported sales of USD 230.1 million in its first quarter ended September 30, 1999.

SH