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Bookham Technology plc has announced that it has entered into an agreement by which it will acquire Onetta Inc., a provider of optical amplifier modules and subsystems for communications networks, based in Sunnyvale, CA. Onetta designs and manufactures intelligent erbium-doped fibre amplifiers (EDFA) for current and next-generation optical communication networks. These amplifiers incorporate advanced optics, control electronics and firmware to provide leading-edge performance.
Under the terms of the agreement, Bookham will acquire the entire issued share capital of Onetta in consideration for the issue of 27.6 million Bookham ordinary shares to the Onetta shareholders at closing, which, as at market close on Friday, May 21, had a value of $23.3 M. As part of the agreement, the Onetta shareholders have agreed to discharge liabilities of the company of approximately $6.0 M. In the first quarter of 2004 Onetta generated revenues of $3.3 M and made a loss of $2.1 M. The value of the net assets being acquired as at the end of the quarter was $7.5 M.
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