Japanese machine tool manufacturer to invest in Lumentum
JDSU (NASDAQ: JDSU) says that Amada Holdings Co., Ltd., a Japanese company that makes machine tools for metal fabrication, has agreed to buy up to $40 million of preferred stock of a subsidiary of Lumentum Holdings Inc. Lumentum, currently the Communications and Commercial Optical Products (CCOP) business unit of JDSU, will spin out of the company in the third quarter of this year