Wednesday, June 3, 2009

Oclaro, Newport Swap Divisions

San Jose-based Oclaro said Wednesday that it is swapping a business division with Newport Corporation. Oclaro said that Newport will acquire Oclaro's New Focus business, part of Oclaro's Advanced Photonics Solutions division, in exchange for Newport Spectra Physics and $3M in cash. Newport's Spectra Physics business develops high power laser diodes. Oclaro was formed from the merger of Bookham and Avanex. Oclaro said the move would position it to become the "largest merchant suupplier" of high power laser diodes.