Bookham, Avanex Merge

In California, Bookham Inc. of San Jose, a telecommunications optical infrastructure solutions manufacturer, and Avanex Corp. of Fremont, a global provider of intelligent photonic solutions, have reached a definitive agreement to merge in an all-stock transaction. Under terms of the agreement, the latter company’s shareholders will receive 5.426 shares of the former company’s common stock for every share of its current common stock, and shareholders will own approximately 46.75 percent of the combined company. The merger will be led by Alain Couder as president and CEO and is expected to have two telecom divisions and one nontelecom division.