San Jose, California, USA and Grenoble, France - August 19, 2005 - Teem Photonics S.A. of Grenoble, France and JDS Uniphase Corporation (NASDAQ: JDSU; and TSX: JDU) of San Jose, California, USA, today announced their entry into a definitive agreement for the sale of JDS Uniphase's passive Q-switched microlaser product line and Grenoble, France, facility to Teem Photonics.
Additionally, the parties announced that JDS Uniphase will exclusively license to Teem intellectual property, including a number of patents, associated with passive Q-switched microlasers.
The microlaser product line is differentiated by its sub-nanosecond pulse widths with peak powers in the tens of kilowatts and repetition rates in the tens of kilohertz, as well as by its reliance on monolithic technology and its distinctive intellectual property. Teem Photonics and JDS Uniphase reached this agreement in recognition that current customers would be best served by a local owner capable of providing the Grenoble-based group more market focus, greater management attention, and improved targeting of investments. The parties have also agreed that JDS Uniphase will continue to supply Teem Photonics with components critical to the manufacture of these differentiated microlasers, ensuring no disruption of customer supply.
"This transaction is beneficial to customers, employees, and the two companies," stated Dr. Antoine Kevorkian, CEO of Teem Photonics. "We are located virtually next door to the Grenoble microlaser group of JDS Uniphase. Our track record in selling optical modules that require state-of-the art performance, high reliability and cost-effectiveness will enable us to serve current microlaser customers well and expand this activity. This transaction offers Teem Photonics the ability to leverage our assets, facilities and sales channel to market this product effectively."
"The divestiture enables us to focus management attention, sales resources and R&D on our leading solid state laser portfolio," said Phillip Meredith, vice president of JDS Uniphase's Commercial Laser Business Unit. "Transferring the Grenoble business to Teem Photonics serves our microlaser customers better and is consistent with our strategy of strengthening the performance of our laser business through effective partnerships."
Financial details of the transaction, which is expected to close during the current calendar quarter, were not disclosed.
About Teem Photonics S.A.
Teem Photonics is a privately held company located near Grenoble France. It is the leader in ion exchange based integrated optical components. The Company produces planar splitters used in Fiber-to-the-Premises applications worldwide and is renowned for its innovations, as demonstrated by its pioneering of the erbium doped waveguide amplifier (EDWA(tm)) and its activities in planar glass waveguide lasers.
For more information, contact Jay Liebowitz, Executive Vice President, at 781-431-7700 or j.liebowitz@teemphotonics.com.
About JDS Uniphase
JDS Uniphase is the worldwide leading provider of broadband test & measurement solutions and optical products for communications, commercial and consumer markets. The Company offers test and measurement systems and services for telecommunications service providers, cable operators, and network equipment manufacturers. In addition, the Company offers components, modules and subsystems for optical communication, display, security, medical/environmental, instrumentation, decorative, aerospace and defense applications. More information is available at http://www.jdsu.com/.
General Inquiries: Contact your JDS Uniphase Representative or call 800-498-5378 in North America or + 800-5378-5378 outside of North America.
Media: Jayme Curtis, Public Relations, 408-546-7028 or jayme.curtis@jdsu.com
Investors: Jacquie Ross, Investor Relations, 408-546-4445, or investor.relations@jdsu.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include: (i) any participation or guidance as to its financial performance for the First Quarter 2006, including expected revenue levels and non-GAAP earnings per share projections; and (ii) JDS Uniphase's expectations regarding the occurrence or timing of completion of any of the restructuring and other actions and activities described in this press release, and employees reduced by such actions. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation, customary documentation and closing conditions related to the transfers to Teem Photonics and other contract manufacturing partners.