CiDRA Finalizes Sale of Optical Sensing Systems

WALLINGFORD, Conn., Dec. 4 -- CiDRA Corp. has completed the sale of its Optical Sensing Systems (OSS) business to Weatherford International Inc. The sale totaled $127.5 million and consideration was paid in both cash and stock.

"This capital will allow us to continue to develop market-leading and highly scaleable products and solutions that will give our customers a competitive advantage," said Kevin Didden, CiCRA's president and CEO. CiDRA manufactures and markets component, module and subsystem products for dynamic routing, monitoring and conditioning of optical signals for optical telecommunications networks.