OpNext Completes Hitachi Transfer

EATONTOWN, N.J. -- OpNext, Inc., a global leader in high performance optical networking components, today announced the transfer of the Opto-Device Division of Semiconductor and Integrated Circuits, Hitachi, Ltd. to OpNext, Inc. The Opto-Device Division designs, manufactures, and sells devices and modules for the access communication, fiber optic backbone and metro markets, in addition to the information and industrial markets. With a solid technology base in lasers, including high power lasers for DVD applications, receivers, and packaging, the Opto-Device Division will continue to build on its unique capabilities in low cost mass production. Optical network systems vendors are increasingly demanding complete modular solutions, and OpNext is moving to address these needs through this transfer In order to fulfill customer requirements, suppliers must deliver more compact solutions, which offer higher performance at lower costs with greater product functionality. The addition of the Opto-Device Division will strengthen and expand OpNext's position in the optical component market by securing a line of high power, high quality lasers at a lower cost. OpNext will continue to service its clients in the data and telecommunication markets, but it will also focus on the information and industrial markets made possible by this transfer. "This transfer is an important step for OpNext toward becoming the leading global provider of optical components and devices. Moving forward, we anticipate that our customers will require opto-electrical modules with a higher degree of integration, and the addition of the Opto-Device Division enables us to meet this need," said Harry Bosco, president and chief executive officer of OpNext. "We are all excited about enhancing OpNext's position in the active optical components market through the addition of the Opto-Device Division. This transfer is consistent with OpNext's growth strategy and will strengthen the technology leadership of both organizations." OpNext Inc. Hitachi Ltd.