SDL to Acquire Lithium Niobate Modulator Manufacturer IOC for $46 Million

To boost its international reach and the breadth of its dense wavelength division multiplexing (DWDM) portfolio, SDL Inc. (San Jose, CA) plans to acquire IOC International PLC, a UK-based manufacturer of lithium niobate products. IOC's products include hermetically sealed 2.5 Gb/s and 10 Gb/s modulators.

Valuing IOC at $46 million, SDL is offering 1.815 shares of its stock for every 100 IOC shares (before taking into account SDL's recently announced 2-for-1 stock split). SDL expects the acquisition to close in the second quarter of 1999. Rea Brothers Ltd. is acting for SDL in connection with the offer and Henry Cooke Corporate Finance Ltd. is acting for IOC.

SDL supplies 980 nm pump modules for both terrestrial and undersea amplifiers, fiber Bragg gratings, WDM-combined 980 nm pump lasers and modules, high power 1480 nm laser pump modules, fiber amplifiers, and tunable 1550 nm sources for telecommunications diagnostic equipment.