Optical Communications Acquisition Nears Completion

Oplink Communications, Inc. signed an agreement to buy the remaining outstanding shares of Optical Communications Products, Inc. and complete the acquisition of the Woodland Hills fiber optic components maker. The OCP board of directors unanimously approved the transaction that has Fremont-based Oplink purchasing 41.9 percent of stock at $1.65 a share. Earlier in the month, Oplink obtained a controlling interest in OCP with the purchase of 58.1 percent of stock from The Furukawa Electric Co., Ltd. Upon completion of the merger in the third quarter OCP becomes a privately-held subsidiary of Oplink. The merger is in the best interests of the company and its remaining shareholders, said Hobard Birmingham, chairman of the special committee of the OCP board that reviewed the buyout.