JDS Uniphase Buying Lightwave - TheStreet

Seeking to widen its focus on lasers, JDS Uniphase (JDSU) says it will buy closely held Lightwave Electronics for $65 million in cash.

Mountain View, Calif.-based Lightwave makes so-called solid-state lasers used by equipment makers in biotech for DNA sequencing, and by tech shops for laser printers and semiconductor inspection.

The move could help JDS Uniphase supply consumer electronics and chipmakers and extend its interest in optical component technology outside the slumping telecommunications market.

"This acquisition reinforces our commitment to the OEM laser business and is in line with our strategy to invest in profitable, growing markets," says JDS laser chief Hoss Christensen, in a press release Monday. "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."

JDS shares were unchanged at $1.70 in postclose trading.