Ottawa, Ontario and San Jose, California, October 23, 2001 – JDS Uniphase Corp. and Adept Technology Inc. have signed definitive agreements to enter into an automation development alliance for optical component and module manufacturing. Through this alliance, Adept will be JDS Uniphase's development partner for optical automation processes and solutions, and JDS Uniphase will make an investment of $25 million in Adept convertible preferred stock.
This alliance continues and extends the two companies' year-long development and supply relationship. Adept will continue its work with the JDS Uniphase internal automation organization, Optical Process Automation (OPA), to develop best-in-class solutions for component and module manufacturing processes and specifically submicron tolerance assemblies. JDS Uniphase will have sole right for fiberoptic application of new products and technologies developed pursuant to this alliance, while Adept will have the right to market such products and technologies for use in other industries. Subject to the foregoing, the two companies are free to pursue development initiatives with other parties.
“This agreement with Adept represents another important step in our global manufacturing strategy,” commented Jozef Straus, JDS Uniphase co-chairman, president, and CEO. “By working with a leading-edge automation company such as Adept, we believe we are enhancing our ability to remain a leader in fiberoptic component manufacturing. We believe Adept's technology can provide a solid foundation to enable us to develop a broad range of new products with higher performance and increased complexity.”
“Adept's vision and motion controls are an excellent complement to our existing automation approach,” added Greg Dougherty, executive VP and COO for JDS Uniphase. “We believe the integration of Adept's flexible automation platform and technologies into our automation systems will provide a lower cost, higher quality and more scalable manufacturing capability throughout the JDS Uniphase organization in the future.”
The agreements remain subject to customary closing conditions and are expected to be completed shortly.