JDS Fitel Completes Akzo Nobel Deal, Sees Stock Jump

Life is good for fiber optics communications specialist JDS Fitel Inc., which just announced a better than 80% jump in quarterly revenues. (see Quarter Brings JDS Fitel Good News click here). In the aftermath of the news, the company's stock shot up past the previous 12-month high of C$44.75 to reach C$60.40, as of this writing.

In other news, the company has completed its previously announced acquisition of the assets of the Akzo Nobel Photonics business unit from Akzo Nobel N.V. subsidiary Akzo Nobel Business Developments B.V. (see JDS Fitel Buys Akzo Nobel Photonics Business click here). The terms included an initial cash purchase price of approximately $19 million plus a maximum aggregate earn-out of $6 million to be paid, based on financial performance, beginning in the third fiscal year after the close of the acquisition.

Akzo Nobel Photonics specializes in optical switching technology for optical networking applications such as dense wavelength division multiplexing (DWDM), optical cross-connects, and protection switching.