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Avanex to acquire Alcatel, Corning business components

Posted: 15 May 2003 ?? ?Print Version ?Bookmark and Share

Keywords:avanex? alcatel? corning? optical component?

Avanex Corp. has signed a definitive agreement to acquire Alcatel and Corning Inc.'s optical components business valued at about $63.5 million.

As part of the transaction, Avanex will acquire all outstanding equity of Alcatel's optical components division. This business will include key operations located in France and U.K. The companies will enter into a supply agreement whereby Avanex will supply solutions for Alcatel's optical networking products over a three-year period. Assets to be purchased from Corning include optical amplifier, dispersion compensation, and micro optics operations located in New York, and Corning modulator operations located in Italy.

Alcatel and Corning will assign about 1,400 patents to Avanex and additionally license several thousand patents to Avanex as part of the transaction.

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