May 24, 2004 Oxfordshire, UK – <ahref=http: www.bookham.com=””>Bookham Technology plc today announced that it has entered into an agreement under which it will acquire Onetta, Inc., a provider of optical amplifier modules and subsystems for communications networks, based in Sunnyvale, CA.
Onetta designs and manufactures intelligent erbium-doped fiber amplifiers (EDFA) for current and next-generation optical communication networks. The Onetta amplifiers incorporate advanced optics, control electronics and firmware.
Under the terms of the agreement, Bookham will acquire the entire issued share capital of Onetta in consideration for the issue of 27.6 million Bookham ordinary shares to the Onetta shareholders at closing (the “Consideration Shares”) which, as at market close on Friday, May 21, had a value of £13.0 million ($23.3 million ). As part of the agreement, the Onetta shareholders have agreed to discharge liabilities of the company of approximately $6.0 million. In the first quarter of 2004 Onetta generated revenues of $3.3 million and made a loss of $2.1 million. The value of the net assets being acquired as at the end of the quarter was $7.5 million.