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Finisar Announces Successful Completion of Acquisition of 100% of Ignis

Date Announced: 05 Jul 2011

More consolidation in telecom optoelectronics sector.

SUNNYVALE, CA--(Marketwire - 07/05/11) - Finisar Corporation (NASDAQ:FNSR - News) reported today that it has successfully completed its acquisition of the entire equity interest in Ignis ASA, a Norwegian company whose shares are currently listed on the Oslo Stock Exchange (Oslo:IGNIS - News).

As a result of its previously-announced recommended voluntary public offer and subsequent mandatory public offer to acquire all outstanding Ignis shares at a cash NOK 8 per share, Finisar acquired approximately 97.25% of the outstanding Ignis shares and subsequently acquired the remaining shares through the compulsory transfer provisions of Norwegian law.

Ignis is applying to the Oslo Stock Exchange for the delisting of its shares. The Exchange has suspended trading in the Ignis shares pending delisting.

SEB Enkilda has acted as Finisar's financial advisor, and DLA Piper has acted as Finisar's legal advisor, in connection with Finisar's acquisition of Ignis.

Source: Finisar


Kurt Adzema
Chief Financial Officer
+1 408-542-5050

E-mail: investor.relations@finisar.com

Web Site: www.finisar.com

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