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MEMSCAP Has Agreed To Buy Substantially All Of The Business And Assets Of

MEMSCAP has agreed to buy substantially all of the business and assets of JDS Uniphase's Cronos MEMS business unit. The French microsystems company will be JDS Uniphase's exclusive supplier of MEMS-based products. As part of the agreement, JDS Uniphase has provided MEMSCAP with initial purchase commitments for products and services.
The Cronos acquisition will
provide MEMSCAP with several active contracts and key customer
relationships, a strong base of manufacturing equipment and an extensive
intellectual property portfolio encompassing 27 existing patents and 27
patent applications.
Cronos has a proprietary Multi-User MEMS Processes (MUMPS) foundry service,
currently being expanded from polysilicon-based technology to metal and
silicon-on-insulator (SOI). Cronos was originally a commercial spin-off of
MCNC and was acquired by JDS Uniphase in April 2000 as a platform for its
MEMS business unit.
MEMSCAP will issue 10.5mn common shares initially to JDS Uniphase, upon
closing of the transaction. In addition, MEMSCAP may be required to issue up
to 6.5mn additional shares, contingent on Cronos achieving certain revenue
targets over the two and a half year period after closing. The acquisition
is subject to customary approvals and review. The exclusive supplier
relationship will continue for a period of not less than three years
following closing of the acquisition.

European company Teem Photonics has acquired the technology of a competitor
in the USA, Northstar Photonics. The companies provide photonic solutions
for high bandwidth optical networks. Teem Photonics produces erbium doped
waveguide amplifiers (EDWA).
Northstar specialised in developing and producing its proprietary Pumped
Optical Waveguide Rare Earth (POWRE) lasers and amplifiers. Teem will
receive a series of patents and applications, including their derivatives,
as well as trademarks and technological know-how in the transfer.
Teem's chief technology officer Denis Barbier says: "The synergies of our
technologies, based on an ion-exchange process we share, will bring exciting
performance bonuses and greater cost reductions to our amplifier product
range."

M+W Zander has bought segments of the technical facility systems unit of the
Krantz TKT Group, a subsidiary of Babcock Borsig. M+W Zander is also buying
Krantz´s clean systems activities and key segments of its research and
development unit as well as its ventilation system component production.
Some 1150 employees are being taken on provisionally. The deal is subject to
approval from the German Federal Cartel Office. With the consolidation of
business activities, M+W Zander will not rule out the possibility of
personnel-related measures subsequent to the acquisition of the Krantz
units. M+W Zander anticipates that some 300 jobs will have to be eliminated.


Dongbu Group is to buy 20mn shares in Anam Semiconductor (ASI) from Amkor
Technology under a shareholders agreement. The selling price is KRW5700 per
share. Completion of the agreement was a condition to closing the
transaction. The proceeds from the sale will be applied to paying off the
Amkor's $97mn term loan under its secured bank credit agreement. Amkor has
already received a 10% deposit from Dongbu. The transaction is currently
scheduled to close on August 28, 2002.
The shareholders agreement also provides that Amkor, ASI and Dongbu will
reach agreement no later than September 30, 2002, to terminate Amkor's
foundry agreement with ASI. Under the terms of the foundry agreement, Amkor
has exclusive rights to sell all the output of ASI's foundry until 2008.
Following the transaction, Amkor will own 27mn shares of ASI. Amkor's
remaining investment in ASI will be valued at $131mn. Dongbu has also
completed purchase of 12mn newly issued ASI shares. In all, Amkor's holding
in ASI will be 22%.
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