SAN JOSE, Calif. -- JDS Uniphase Corporation (NASDAQ: JDSU and TSX: JDU) today announced a definitive agreement to acquire Lightwave Electronics Corporation, 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, California. 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 chief executive officer 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 Corp.