JDS FITEL Inc. (Nepean, ON, Canada) announced the signing of an agreement to acquire the assets of the Akzo Nobel Photonics business unit from Akzo Nobel Business Developments B.V., a wholly owned subsidiary of Akzo Nobel N.V. (Netherlands). In conjunction with the acquisition, JDS FITEL also entered into a strategic alliance with AlliedSignal Inc. (Morristown, NJ) to further exploit the technology purchased from Akzo Nobel. Under terms of the agreement, JDS FITEL acquires all assets of Akzo Nobel Photonics for an initial cash purchase price of approximately $19 million, plus a maximum aggregate earn-out of $6 million to be paid, based on financial performance, beginning in the third fiscal year after acquisition closure, expected in the third quarter of fiscal 1999.
JDS FITEL Inc. (Nepean, ON, Canada) announced the signing of an agreement to acquire the assets of
Jan 1st, 1999