Friday, January 30, 2009

Bookham, Avanex In Merger

San Jose-based Bookham and Fremont-based Avanex said earlier this week that the two firms will merge in an all-stock transaction. Both firms develop optical components for the metro and long haul telecom market. The deal is worth approximately $35.4M. According to the two firms, Avanex shareholders will receive 5.426 shares of Bookham common stock for every share of Avanex common stock. Bookham was advised by Citigroup Global Markets in the deal; Avanex was advised by Bank of America Securities.