In the news release, Oclaro and Opnext Complete Merger, issued 24-Jul-2012 by Oclaro, Inc. over PR Newswire, we are advised by the company that the sixth paragraph, second sentence, should read " Marissa Peterson, director" rather than " Marissa Smith, director" as originally issued inadvertently. The complete, corrected release follows:
Oclaro and Opnext Complete Merger
Oclaro Now #2 Provider of Optical Components, Modules and Subsystems
SAN JOSE, Calif. and FREMONT, Calif., July 24, 2012 /PRNewswire/ -- Oclaro, Inc. (Nasdaq: OCLR), a tier-one provider and innovator of optical communications and laser solutions, and Opnext, Inc. (Nasdaq: OPXT), a global leader in the design and manufacture of optical modules, components and subsystems, today announced shareholder approval of their merger, which closed July 23, 2012.
The combined company will continue to operate under the Oclaro name, and today unveiled a new logo and brand identity to represent the creation of a new leader in the optical industry.
"The new Oclaro boasts one of the broadest and vertically-integrated product lines in the industry. Our vision is that the power and speed of light will change the way we live and work," said Alain Couder, chairman and CEO, Oclaro. "By transmitting data over fiber at increasing speeds, our customers have made possible new and fast growing applications such as social networking, video streaming, and cloud computing. The ability to control the power of lasers as a heat and energy source is transforming healthcare, material processing and consumer electronics. Through this merger, we have assembled the optical technologies, products and expertise at the heart of this new world of innovation."Oclaro is now the second largest provider of optical components, modules and subsystems to the optical communications, industrial and consumer laser markets, with approximately $833 million in combined revenues for the fiscal year ended July 2, 2011, and approximately 3,200 employees worldwide. The company brings together over 30 years of combined optical technology innovation from leading optical technology companies such as Hitachi, Nortel, Alcatel, Marconi, Corning, Opnext, Bookham and Avanex. Oclaro's portfolio of products includes the components, modules and subsystems that transmit, receive, and amplify light signals over fiber optic networks to deliver a new range of high speed services in the core optical network, enterprise and data center markets. Its laser diode solutions deliver the power needed for cutting, marking, welding, heating and illumination for a broad range of new applications in the consumer electronics, industrial and medical markets.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts