Product category:
Lasers
News Release from: Bookham
Edited by the Electronicstalk Editorial
Team on 26 May 2004
Acquisition to boost optical amp
capabilities
Bookham Technology has entered into an agreement to acquire Onetta, a leading provider of optical amplifier modules and subsystems for communications networks, based in Sunnyvale, California.
Bookham Technology has entered into an agreement to acquire Onetta, a leading provider of optical amplifier modules and subsystems for communications networks, based in Sunnyvale, California Onetta designs and manufactures intelligent erbium doped fibre amplifiers (EDFAs) for current and next-generation optical communication networks
This article was originally published on Electronicstalk on 28 Feb 2008 at 8.00am (UK)
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The Onetta amplifiers incorporate advanced optics, control electronics and firmware to provide leading edge performance.
Under the terms of the agreement, Bookham will acquire the entire issued share capital of Onetta in consideration for the issue of 27.6 million Bookham ordinary shares to the Onetta shareholders at closing which, as at market close on Friday 21st May, had a value of GBP 13.0 million (US $23.3 million).
As part of the agreement, the Onetta shareholders have agreed to discharge liabilities of the company of approximately $6.0 million.
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In the first quarter of 2004 Onetta generated revenues of $3.3 million and made a loss of $2.1 million.
The value of the net assets being acquired as at the end of the quarter was $7.5 million.
Giorgio Anania, Bookham's Chief Executive Officer, commented on the opportunities the acquisition would bring: "Bookham is currently a leading player in optical amplifiers".
"The addition of the Onetta team, the added revenue and the additional tier-one customer penetration Onetta brings to us further strengthens our position in optical amplifiers and accelerates consolidation in this segment of the telecom optical component space".
"In addition, Onetta provides key skills that should strengthen Bookham's position as a leader in design and manufacture of optical line subsystems".
"We believe that strong operational and product synergies with Onetta will give rise to immediate cost saving opportunities since it fits well with our streamlining of manufacturing operations and cost reductions as the combination creates strong economies of scale in our amplifier production".
"Our excellent track record in consolidation underpins our confidence that significant financial benefits will be realised".
"We expect Onetta, after synergies are considered, to become cash-generating before the end of 2004".
Yan Sun, President and cofounder of Onetta, agreed with Anania's comments: "Bookham's strength and depth in amplifiers and subsystems and their strong channels to market is the perfect match to ensure continued revenue growth for the Onetta product portfolio".
"The combination will bring together a broad customer base and will allow significant synergies to be realised through vertical integration of key Bookham optical components".
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