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 sub-micron 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 Chief Executive Officer. 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.
Brian R. Carlisle, Chairman and Chief Executive Officer of Adept said, We are very excited about this expansion of our relationship with JDS Uniphase, and the opportunity to work jointly on new generations of automation solutions. It was clear in our earliest discussions that JDS Uniphase recognizes the need for flexible automation to increase yields and reduce manufacturing costs. Carlisle continued, Working closely with a manufacturing leader like JDS Uniphase is a perfect opportunity to apply the analytical approach we have taken to providing solutions for manufacturers.
Adept’s vision and motion controls are an excellent complement to our existing automation approach, added Greg Dougherty, Executive Vice President and Chief Operating Officer 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.
SOURCE: COMPANY PRESS RELEASE
