Bookham Buys Marconi Components
LONDON -- Marconi plc (London and Nasdaq:
MONI) today announced the sale of its Optical Components business
to Bookham Technology plc (LSE: BHM; Nasdaq: BKHM) in exchange
for 12,891,000 Ordinary Shares in Bookham, equivalent to
approximately 9.999 per cent of the current issued share capital
of Bookham. Based on the mid-market closing share price of
Bookham on 14 December 2001, the transaction has a value of
approximately £19.7 million. The transaction, which is expected
to close in early 2002, is in line with Marconi's stated strategy
to manage its non-core assets for value.
'This agreement is an important further step in the on-going disposal of Marconi's non-core businesses,' said Mike Parton, Marconi CEO. 'Marconi sees very real value in holding a substantial shareholding in a business that will become a leading provider of integrated photonic solutions worldwide, whilst eliminating Marconi's ongoing investment requirements.'
Giorgio Anania, President and CEO at Bookham Technology plc, said: 'Integrating Marconi's Optical Components creates a powerful new force in the optical components marketplace worldwide. Bookham gets access to a significant portfolio of intellectual capital, highly-skilled people and a range of other assets. Bookham also gets access to a range of innovative component products that complement our existing range.'
Marconi Optical Components, headquartered in Caswell Northamptonshire, is an independent business unit within Marconi's Capital Group that focuses on providing a portfolio of integrated photonic solutions for optical networks.
Bookham Technology PLC Marconi PLC