JDS Uniphase buys Lightwave Electronics Corp. for $65 million

SAN JOSE, Calif., 21 March 2005. JDS Uniphase Corp. today announced a definitive agreement to acquire Lightwave Electronics Corp., a leading provider of solid-state lasers for commercial markets including materials processing, semiconductor fabrication, and biotech as part of its strategy to expand its product line of solid-state lasers and broaden its customer base in growing laser markets.

SAN JOSE, Calif., 21 March 2005. JDS Uniphase Corp. today announced a definitive agreement to acquire Lightwave Electronics Corp., a leading provider of solid-state lasers for commercial markets including materials processing, semiconductor fabrication, and biotech as part of its strategy to expand its product line of solid-state lasers and broaden its customer base in growing laser markets.

Under the terms of the agreement, JDS Uniphase will acquire Lightwave in an all cash transaction for $65 million. Founded in 1984, Lightwave is privately held with about 120 employees and is headquartered in Mountain View, Calif. The acquisition, subject to customary closing conditions, is expected to be completed in the second calendar quarter of this year.

"This acquisition reinforces our commitment to the OEM laser business and is in line with our strategy to invest in profitable, growing markets," said Hoss Christensen, vice president of JDS Uniphase's Lasers, Optics and Display Product Group. "Lightwave brings outstanding technical capabilities, complementary product lines, and a track record of profitability and strong execution -- they will be a great addition to the JDS Uniphase team."

Lightwave is a market leader in mid- and high-power solid-state lasers operating in a broad range of wavelengths. These products are typically integrated into larger application-specific solutions by Lightwave's customers.

"The customer demand for high performance, precision lasers is driving our growth," said Phillip Meredith, president and CEO of Lightwave Electronics. "The combination of Lightwave's product portfolio and technology with JDS Uniphase's broad range of commercial lasers, strong optical base, industry-leading manufacturing capabilities and financial strength positions us well to provide exceptional market responsiveness."

JDS Uniphase's current laser offering includes laser diodes, low-power solid-state lasers, high-power fiber lasers, and argon-ion and helium-neon gas lasers. With this acquisition, JDS Uniphase significantly strengthens its portfolio in the higher-growth solid-state laser markets and expands its presence with materials processing, semiconductor, and biotechnology customers for applications such as PC board via-hole drilling, wafer singulation for solar cells and LEDs, wafer inspection and alignment, memory repair, and ultraviolet flow cytometry and confocal microscopy.

JDS Uniphase Corp., a worldwide leader in optical technology, designs and manufactures products for fiberoptic communications, as well as for markets where its core optics technologies provide innovative solutions for industrial, commercial and consumer applications. The company's fiberoptic components and modules are deployed by system manufacturers for the data communications, telecommunications and cable television industries. The company also offers products for display, security, biotech, semiconductor equipment, medical/environmental instrumentation, decorative, aerospace and defense applications. For more information, see www.jdsu.com.

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