JDS Uniphase Innovates Commercial Markets with Pioneering Power Over Fiber Technology
SAN JOSE, CALIFORNIA, June 6, 2005 – JDS Uniphase Corporation (NASDAQ: JDSU; and TSX: JDU) announced today it has acquired privately held Photonic Power Systems, Inc., the pioneering provider of photonic power for the delivery of power over fiber. Photonic power is an inventive power delivery system whereby light from a laser source illuminates a highly efficient photovoltaic power converter to produce electrical power. The acquisition represents an innovative system solution to remote powering for many commercial applications.
"JDS Uniphase is acquiring a potentially disruptive technology," said Vincent Lui, an analyst with industry research firm IDC. "The technology is not incremental, it is a completely novel approach to power delivery in specialty applications. Moreover, Photonic Power Systems, Inc. has a proven history, strong intellectual property in the area of fiber optic photonic power conversion, and core technology that aligns well with JDS Uniphase's technology base."
Photonic power replaces copper and batteries for remote sensors, coaxial cable in wireless applications, and oil or gas-filled measurement transformers in high voltage applications. It delivers isolated power that is immune to RF, EMI, high voltage and lightning. Photonic Power Systems' technology can be leveraged across multiple markets, including medical, wireless communications, electrical power, industrial sensor, and aerospace applications. More than 10,000 units have been deployed to date, serving more than 50 customers.
"We're excited about the expanded market opportunities created by this acquisition," said David Gudmundson, vice president of corporate development for JDS Uniphase. "In the long run, we believe customers will include an attractive mix of existing JDS Uniphase communications customers in established sectors such as wireless, and new, diverse industrial customers in applications like remote power and sensing."
"Joining forces with JDS Uniphase provides us with a platform upon which to further build this technology and the opportunity to explore new markets and applications," said Dr. Jan-Gustav Werthen, founder and CEO of Photonic Power Systems, Inc. "In addition to access to its optical technology, JDS Uniphase can help us scale via a strong, well-established manufacturing capability and sales channel."
"Photonic power has allowed us to easily transition our TV broadcast facilities from analog to digital transmission," said Mr. Yoshikazu Toba, manager of the Ubiquitous Devices Development Division/Networking Devices Operations Unit of NEC TOKIN Corporation. "We intend to utilize this innovative power source for other applications as well including EMI testing of commercial electronics and automotive systems."
"Photonic Power Systems' unique photonic power solution has permitted us to offer our electric power customers a very cost effective, low maintenance alternative for current measurement in high voltage environments," said Mr. Georg Wild, director of Engineering Control & Protection, HVDC Systems, Siemens AG. "We look forward to working with JDSU in offering further improvements to our utility customers."
All eight of Photonic Power Systems' employees, currently located in Cupertino, California, will transition to JDS Uniphase's corporate offices in San Jose, California. The group will form the nucleus of JDS Uniphase's Photonic Power Business Unit, led by Dr. Jan-Gustav Werthen. Financial terms of the acquisition, which closed on May 26, 2005, are not being disclosed. The acquisition is not anticipated to have a material impact upon EBITDA on a non-GAAP basis.
The photonic power technology will be displayed in Booth #736 at Sensors Expo, McCormick Place, Chicago, June 6 – 8.
About Photonic Power Systems, Inc.
Photonic Power Systems, a fabless semiconductor company located in Cupertino, California, is a leading provider of GaAs and InP-based solutions for delivering electrical power over fiber for numerous electronic applications. Photonic Power Systems combines its laser and fiber optic expertise with photovoltaic power converter design skills to offer a cost-competitive power delivery system to drive sensors, gauges, actuators, low power communications devices, nanotechnology, and micro-electromechanical systems (MEMS). The isolated nature of the power delivery makes it ideal for use in applications involving high levels of RF, EMI, and voltage. Additional information is available online at http://www.photonicpower.com/.
About JDS Uniphase
JDS Uniphase Corporation designs and manufactures products for markets where its core optics technologies provide innovative solutions for communications, commercial and consumer applications. The Company offers components, modules and subsystems for data communications, telecommunications and cable television, display, security, medical/environmental instrumentation, decorative, aerospace and defense applications. More information is available at www.jdsu.com.
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. Such forward-looking statements include, but are not limited to any expected benefits and the financial performance of the acquisition, including, without limitation, expected applications and uses for the acquired technology and products, potential markets and customers of the acquired technology and products, and expected future market and business growth. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected. Risks and uncertainties that could cause actual results to differ materially from such forward-looking statements include, but are not limited to, the risks that (a) the acquired business will not be effectively integrated, that such integration will be more costly or time-consuming than expected, or the acquired business will not achieve expected financial results or synergies or otherwise perform as expected, (b) the products and technology of the acquired business will not perform as expected, or will not be accepted or purchased by customers, and (c) those risks discussed from time to time in reports filed by JDS Uniphase Corporation with the Securities and Exchange Commission. Among other things, investors are cautioned that there is currently no developed market or established customer base for the acquired products and technologies, and that the success of such products and technologies are dependent upon the development and growth of profitable markets and applications, and customer acceptance. The forward-looking statements contained in this news release are made as of the date hereof and JDS Uniphase Corporation assumes no obligation to update the reasons why actual results could differ materially from those projected in the forward-looking statements.
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