Finisar Corp. to acquire AIFOtec GmbH

Feb. 7, 2002
February 6, 2002--Finisar Corp. has acquired the assets of AIFOtec GmbH, a Munich, Germany-based developer of optical subsystems, for approximately $2.3 million. The purchase price includes the acquisition of capital equipment, inventory, and intellectual property. In addition, Finisar has agreed to hire approximately 30 former AIFOtec employees. The transaction was completed on February 1, 2002.

Finisar Corp. has acquired the assets of AIFOtec GmbH, a Munich, Germany-based developer of optical subsystems, for approximately $2.3 million. The purchase price includes the acquisition of capital equipment, inventory, and intellectual property. In addition, Finisar has agreed to hire approximately 30 former AIFOtec employees. The transaction was completed on February 1, 2002.

At the same time, Finisar announced that it would use the acquisition as an opportunity to strengthen its sales and marketing presence in Europe for its optical components and subsystems. The new company will be known as Finisar Europe GmbH.

"We believe that the technologies and processes developed for telecom applications at AIFOtec can be readily applied to products for datacom and metro access applications," contends Jerry Rawls, Finisar president and chief executive officer. "Furthermore, we are adding some very talented people whom we believe will have a large impact on our optical subsystem business. AIFOtec will enable us to produce optical products with higher levels of performance and lower manufacturing costs," he adds.

Finisar Corp. (Sunnyvale, CA) develops fiber-optic subsystems and network performance test systems that enable high-speed data-communications over Gigabit Ethernet local area networks, Fibre Channel storage area networks, and metropolitan area networks. For more information, visit the Company's Web site at www.finisar.com.

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