JDS Uniphase to Acquire Cronos

NEPEAN, Ontario, Apr. 6 -- JDS Uniphase Corp. has signed a definitive agreement to acquire Cronos Integrated Microsystems Inc. for $750 million in stock. Based in Research Triangle Park, N.C., Cronos produces optical micro-electro-mechanical systems (MEMS) devices for the telecommunications industry. The companies noted that MEMS technology is expected to play a key role in a wide variety of future generations of optical components, including optical switches, attenuators, gain equalizers, dispersion compensators and programmable add/drop modules.
Once part of MCNC -- formerly known as the Microelectronics Center of North Carolina -- Cronos provides design, prototyping and manufacturing of MEMS optical devices based on surface, bulk and high aspect ratio micromachining. The companies expect to close the transaction within the month, subject to Cronos shareholder approval and other closing conditions.