JULY 17, 2009 -- JDSU (search Lightwave for JDSU) has completed its acquisition of the Network Tools business of Finisar Corp. (search Lightwave for Finisar). The acquisition immediately boosts JDSU's portfolio as a provider of storage area network (SAN) protocol test tools, software, and services.
"This acquisition provides JDSU with unique capabilities to address the SAN test market's best growth opportunities, such as Fibre Channel over Ethernet," says Dave Holly, president of JDSU's Communications Test and Measurement business segment. "We welcome the Network Tools team to JDSU and look forward to combining our respective strengths to deliver test innovation for the benefit of our customers."
JDSU expects the business to contribute revenue in the mid-to-high single-digit millions of dollars and neutral operating income in the first quarter of FY2010.
The company also announced that it will be issuing grants of compensatory stock option and restricted stock unit awards to employees hired by JDSU in connection with the acquisition. Awards will be granted to 87 employees.