JDSU Acquires Westover Scientific’s Fiber Optic Division »
January 07, 2008
Milpitas, Calif., January 7, 2008 – JDSU today announced that it has acquired the fiber division of Westover Scientific Inc., a leading provider of fiber optic inspection and cleaning solutions. Westover Scientific’s products complement JDSU’s existing fiber field and lab and production test portfolio and will be integrated with JDSU’s Communications Test and Measurement (CommTest) business, now the largest provider of fiber optic test solutions in the world for service providers, labs and manufacturers.
Westover Scientific, based near Seattle, Washington, designs and manufactures specialized field and lab microscopes necessary to detect dirt and other contaminants that are considered the leading cause of costly faults in fiber optic networks. According to the agreement, which has been completed, JDSU acquired the fiber division of Westover Scientific for $50 million in cash, subject to terms and conditions. JDSU also intends to acquire Westover Scientific’s affiliated manufacturing company in Fuzhou, China, which remains subject to certain regulatory approvals. JDSU expects to complete this second acquisition in the second half of the 2008 fiscal year.
Communications service providers worldwide are rolling out proactive fiber inspection programs to support the deployment of large-scale FTTx initiatives and to ensure reliable, high-quality delivery of IP-based triple play services. Service providers have identified contaminated fibers as the key cause of costly network troubleshooting and permanent equipment damage. Westover Scientific offers easy-to-use fiber inspection solutions that, among other applications, allow field technicians to determine the cleanliness of fiber connection when they install the network. Westover Scientific is a leading provider of fiber inspection microscopes and automated fiber analysis software necessary for these programs.
Fiber inspection and cleaning are critical components in a comprehensive fiber deployment and operation strategy. Westover Scientific provides a full suite of optical inspection and cleaning solutions that address the needs of fiber component and system manufacturers, communication service providers, and various other vertical markets such as premise networks, military and aerospace.
“The investment in FTTx initiatives and the importance of service quality in today’s competitive environment mean telecommunications and cable service providers need dependable fiber optic test solutions that allow them to proactively prevent fiber contamination that may cause network faults before they affect end-users,” said Bill Mortimer, vice president and general manager of JDSU’s Lab, Production and Fiber Optic test businesses. “With the addition of Westover Scientific’s product portfolio, JDSU has an unmatched set of fiber test solutions to support the cost-effective deployment and management of fiber networks.”
JDSU currently integrates high-performance Westover Scientific products in many of its advanced test platforms, including fiber characterization solutions in the
MTS/T-BERD 8000 and MTS/T-BERD 6000 product lines.
“Fiber networks are both increasingly complex and necessary due to the continued demand for high-bandwidth broadband services, and solutions are needed to help deploy the networks quickly without sacrificing performance,” said Steve Lytle, president of Westover Scientific. “Providing the market with reliable cleaning and inspection products that help meet the challenges of deploying high-performance fiber has been the differentiator for Westover Scientific products for over ten years, and we will build on this commitment as part of JDSU.”
Westover Scientific’s fiber test business includes approximately 80 employees with calendar 2007 revenues of more than $15 million, representing growth of approximately 30% compared with calendar 2006. JDSU expects the transaction to be accretive on a non-GAAP EPS basis for fiscal 2008.
About Westover Scientific
Founded in 1994, Westover Scientific designs, develops and manufactures microscopes and precision cleaning systems for the fiber optic communications market as well as the scientific, industrial and educational fields. Today, Westover Scientific is the primary supplier of fiber microscopes to most tier 1 telecommunications manufacturers and carriers and the recognized experts in fiber optic interconnect inspection and qualification.
About JDSU
JDSU (NASDAQ: JDSU; and TSX: JDU) enables broadband and 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. JDSU is also a 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 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 fiber inspection market will grow at the rate predicted by third parties; that JDSU will actually complete the acquisition of Westover Scientific’s affiliate in China; and that Westover Scientific’s operations, sales channels and business will be successfully integrated into JDSU. 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) 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:
Press/Industry: Nick Rowan, +1 240 404 1924, nick.rowan@jdsu.com
Investors: Michelle Levine, +1 408-546-4421, michelle.levine@jdsu.com
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