Amada to Invest in JDSU Spinoff Lumentum

Japanese metals/tools manufacturer agrees to buy up to $40 million in preferred stock of a subsidiary of Lumentum after the spinoff is completed.

May 14, 2015

1 Min Read

MILPITAS, Calif. -- JDSU (NASDAQ: JDSU) announced today that it has signed a definitive agreement with Amada Holdings Co., Ltd. of Japan, a manufacturer of machine tools for metal fabrication, to purchase up to $40 million of preferred stock of a subsidiary of Lumentum Holdings Inc., the publicly-traded company that will result from the planned spin-off of the CCOP business unit from JDSU. The spin-off is expected to happen in the third calendar quarter of 2015 and the final amount of Amada’s investment will be determined based on initial trading of Lumentum Holdings Inc. common stock.

“We are honored that Amada has committed to invest in our business as we progress towards becoming our own publicly-traded company,” said Alan Lowe, president of CCOP at JDSU and CEO-designate of Lumentum. “We look forward to continued collaboration as we have for more than eight years,” said Mitsuo Okamoto, president and CEO of Amada.

JDSU (Nasdaq: JDSU; Toronto: JDU)

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