Milpitas, Calif., May 10, 2007 – JDSU today announced an agreement to purchase Ottawa, Canada-based Innocor, a leading provider of broadband test solutions for network equipment manufacturers. Innocor’s products complement JDSU’s existing Lab and Production test solutions and will be integrated with JDSU’s Communications Test and Measurement (CommTest) business, one of the leading providers of test solutions for the research and development, service verification testing and production needs of network equipment manufacturers. Financial terms of the transaction were not disclosed and JDSU expects to complete the acquisition in the current fiscal fourth quarter ending June 30, 2007.
Innocor expands JDSU’s product portfolio for the lab and production test market by capitalizing on a number of key assets, including Innocor’s successful TestPoint product family, Innocor’s established verification and production test expertise and innovation; the close customer relationships Innocor has with leading network equipment manufacturers worldwide; JDSU’s strong product development capabilities; and JDSU’s global direct sales organization and other distribution channels.
Bill Mortimer to Lead JDSU CommTest Lab & Production Product Group
In a related development, JDSU also announced today the appointment of Bill Mortimer as vice president and general manager of JDSU CommTest’s Lab and Production division, overseeing the company’s fiber optic, optical transport and Innocor business units. Mortimer -- who brings more than 20 years of communications test experience, including 13 with Agilent Technologies/Hewlett-Packard -- offers a depth of management, product development and marketing experience to JDSU, and will play a lead role in the company’s initiative to expand its set of test solutions for network equipment manufacturers.
Comprehensive and cost-effective test solutions for network equipment manufacturers are crucial due to the accelerated growth in core networks to accommodate the widespread adoption of broadband services. These new, high bit-rate networks create new challenges for equipment manufacturers by pushing the boundaries of physics and demanding that every network element be designed, installed and tuned with precision. Network operators are also challenged by the need to reduce operating expenses while adding new revenue-generating services that increasingly require lab and production test equipment that supports data rates up to 40G.
“The surge of broadband traffic, especially IPTV-related services, means equipment manufacturers will require test solutions that continuously evolve in lock-step with high-performing and dependable next-generation technologies,” said Mortimer. “With the addition of Innocor’s product portfolio, JDSU has an unmatched set of solutions designed to help equipment manufacturers meet the challenges associated with the development, production and operation of high-bandwidth networks.”
Innocor’s TestPoint product family provide modular and cost-effective test solutions for development, verification and production of next-generation fibre channel, 10G Ethernet and SONET/SDH/OTN networks. TestPoint complements JDSU’s ONT-506, the industry’s first all-in-one portable tester for 40/43G networks, including jitter and wander.
“Network equipment challenges exist not only in wireline but in high-growth IP and wireless networks, all of which are experiencing convergence and increased complexities,” said Randy Gill, president of Innocor. “Providing the industry with reliable and evolving test tools that help meet the complex challenges of producing next-generation equipment is the differentiator for Innocor products, and we will build on this commitment as part of JDSU.”
About Innocor
Established in 1995, Innocor designs, manufactures and markets broadband test solutions that address multiprotocol and bit error rate testing from 10Mbps to 43Gbps. Innocor is organically grown and funded by its own success. For more information, visit www.Innocor.com.
About JDSU
JDSU (NASDAQ: JDSU; and TSX: JDU) is committed to enabling broadband & optical innovation in the communications, commercial and consumer markets. JDSU is the leading provider of communications test and measurement solutions and optical products for telecommunications service providers, cable operators, and network equipment manufacturers. Furthermore, JDSU is the leading provider of innovative optical solutions for medical/environmental instrumentation, semiconductor processing, display, brand authentication, aerospace and defense, and decorative applications. More information is available at http://www.jdsu.com/.
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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 statement or implication that the mobile phone test system market will grow at the rate predicted by third parties; that Innocor’s operations, sales channels and business will be successfully incorporated into JDSU, or that Innocor’s products described in this press release (i) will be successfully introduced or marketed, (ii) will be qualified and purchased by our customers, or (iii) will perform to any particular specifications or performance or reliability standards. Such forward-looking statements involve risks and uncertainties that, if realized, could materially impair the Company's results of operations, business, and financial condition. These risks and uncertainties include the following, among other things: (a) our current visibility as to customer demand levels, future market growth and the timing, extent, location, requirements and nature of network build-outs and technology transitions, is extremely limited; (b) the timing, extent, location, requirements and nature of network technology transitions is extremely unpredictable and development cycles are generally very long; and (c) the products may not (i) perform as expected without material defects, (ii) be manufactured at acceptable volumes, yields, and cost, (iii) be qualified and accepted by our customers, and (iv) successfully compete with products offered by our competitors, and (d) factors discussed from time to time in reports filed by the Company with the Securities and Exchange Commission. The forward-looking statements contained in this news release are made as of the date hereof, and the Company does not assume any obligation to update or qualify any of the statements made herein. Source: JDS Uniphase Corporation.
Contacts:
Media – Nick Rowan, 240-404-1924, nick.rowan@jdsu.com
Investors – Jacquie Ross, 408-546-4445, investor.relations@jdsu.com