Oclaro

Last updated

Oclaro
Company type Public
Industry Optical components
Founded1988
Headquarters San Jose, California
Key people
Greg Dougherty (CEO)
Revenue $566 million (2013)
$(124.8) million (2013)
$(122.7) million (2013)
Website Oclaro.com

Oclaro was a US-based business manufacturing and selling optical components. Oclaro was formerly listed on the London Stock Exchange and was a constituent of the FTSE 100 Index. The company is now part of Lumentum (LITE) after it was acquired in December 2018. [1]

Contents

History

The company was founded in the United Kingdom as Bookham Technology in 1988. [2] It became the first company to make optical components that can be integrated into a silicon integrated circuit. [2] In 2002 the Company expanded substantially when it acquired the optical components businesses of Marconi and Nortel Networks. [2] In 2003 it acquired Cierra Photonics of Santa Rosa, California, and New Focus, a US business, for £118 million. [3] In 2004 it acquired Onetta, Inc. and became a US-domiciled company. In March 2006, Bookham acquired Avalon Photonics, based in Zurich, Switzerland. [2]

In late April 2009 the Bookham and Avanex Corporations [a] announced that they had merged, creating what they hoped would be one of the largest suppliers of optical components, modules and subsystems for telecommunications. The newly combined company was named Oclaro combining the words Optical and Clarity. [7]

On March 26, 2012, Oclaro, Inc. announced the acquisition of Opnext, which was founded as a venture of the Clarity Group and optical researchers from Hitachi. [8] The merger between Oclaro and Opnext was approved by shareholders of both companies on July 23, 2012. [9]

Oclaro was acquired by Lumentum in December 2018 for approximately $1.8 billion. [1]

Notes

  1. ↑ Avanex Corporation was incorporated in 1997 and had their initial public offering on February 4, 2000, raising US$216 million, and was based in Fremont, California. [4] By 2002 (after the dot-com bubble had burst) restructuring included shutting down a plant in Richardson, Texas. [5] In 2003 Avanex acquired Alcatel Optronics France SA from Alcatel and the photonic technology business of Corning Incorporated. [6]

References

  1. 1 2 "Lumentum Announces Completion Of Oclaro Acquisition". MarketWatch. Retrieved 21 February 2020.
  2. 1 2 3 4 "Company History". web page. Bookham. Archived from the original on 26 April 2009. Retrieved 24 June 2013.
  3. ↑ "Britain's Bookham buys US firm New Focus for £118m". Red Orbit news. 23 September 2003. Archived from the original on 22 May 2011. Retrieved 24 June 2013.
  4. ↑ "AVANEX CORP (AVNX) IPO". NASDAQ. Retrieved 24 June 2013.
  5. ↑ "Avanex Announces Appointment of Senior Executives; Takes Further Steps in Restructuring". news release. 14 October 2002. Archived from the original on 16 April 2004. Retrieved 24 June 2013.
  6. ↑ "Avanex Stockholders Approve Acquisitions". news release. 25 July 2003. Archived from the original on 16 April 2004. Retrieved 24 June 2013.
  7. ↑ "Avanex and Bookham become Oclaro". Compound Semiconductor. 28 April 2009. Archived from the original on 1 May 2013. Retrieved 24 June 2013.
  8. ↑ "About us". Opnext web site. Archived from the original on 2 February 2001. Retrieved 24 June 2013.
  9. ↑ "Oclaro and Opnext Agree to Merge". Press Release. Oclaro, Inc. 26 March 2012. Archived from the original on 12 August 2013. Retrieved 24 June 2013.
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