News Article
Bookham Technology Has Agreed To Acquire The Optical Transmitter And
Bookham Technology has agreed to acquire the Optical Transmitter and
Receiver and Optical Amplifier businesses of Nortel Networks. As part of the
combination, Nortel Networks has also agreed to enter into a $120mn supply
agreement with Bookham. Approval of the deal by Bookham's shareholders is
need at an extraordinary general meeting to be held on November 5, 2002.
Bookham has purchased these assets free from trade debtors and all other
indebtedness. Substantially all of the employees of the businesses will be
joining Bookham as part of the combination. Nortel will receive 61mn new
ordinary Bookham shares, representing some 30% of the issued share capital.
Bookham will also pay Nortel $10mn for restructuring expenses incurred in
connection with the combination.
indebtedness. Substantially all of the employees of the businesses will be
joining Bookham as part of the combination. Nortel will receive 61mn new
ordinary Bookham shares, representing some 30% of the issued share capital.
Bookham will also pay Nortel $10mn for restructuring expenses incurred in
connection with the combination.