Cierra Photonics Bought by UK Company

Bookham Technology plc of Oxfordshire, UK, has agreed to acquire the business, assets and certain liabilities of Cierra Photonics Inc. of Santa Rosa, Calif., a designer and manufacturer of thin-film filters for the fiber optics telecommunications industry. According to the agreement, more than 3 million shares in Bookham, a designer, manufacturer and marketer of optical and RF components, will be issued to Cierra, with the potential for more than 4 million more, depending on satisfactory fulfillment of specific sales milestones over the next two years. Based on the closing price of ordinary shares on July 3, the acquisition is valued at about £2.25 million ($3.6 million).