OCPI Acquires Cielo

CHATSWORTH, Calif. -- Optical Communication Products, Inc. (Nasdaq:OCPI - News), a manufacturer of fiber optic subsystems and modules for metropolitan and high-speed premises networks, today announced that it has acquired certain assets of privately-held Cielo Communications of Broomfield, CO. Cielo Communications is an industry leader in the research and development of VCSEL technology for fiber optic communication networks.Cielo Communications' technology will enhance OCP's ability to accelerate the integration of 1300 nm VCSEL sources into multi-channel optical modules. These parallel array optical modules offer the advantages of high optical port density and low power consumption which are required by the next generation optical networking applications."We believe that single mode long wavelength VCSEL technology is a key enabling building block for the next generation of optical modules. The acquisition of Cielo Communications gives us the opportunity to expand our product portfolio to include optical modules based on 1300 nm VCSEL arrays," said Dr. Muoi V. Tran, CEO and President of OCP. "Furthermore we are pleased to have added some very talented people whom we believe will make a significant contribution to OCP's success in the future." Financial terms of the acquisition were not disclosed. The purchase price includes the acquisition of capital equipment, inventory and intellectual property. In addition, OCP has hired approximately 20 former Cielo Communications employees and will continue to operate in Broomfield, Colorado. The transaction was completed on October 9, 2002.Optical Communication Products Inc. (OCPI) Cielo Communications Inc.