New Focus to Acquire Globe Y. Technology

SANTA CLARA, Calif., Oct. 27 -- Globe Y. Technology Inc., a manufacturer of fused fiber coupling machines, has agreed to be acquired by New Focus in exchange for $50 million in New Focus common stock. New Focus will use Globe Y. Technology's fused fiber instruments in the manufacture of fiber optic components. The merger will be treated as a purchase for accounting purposes and will involve significant goodwill based on the underlying book value of Globe Y.'s assets, said New Focus.
New Focus designs, manufactures and markets fiber optic products for next generation optical networks and also provides instruments, including a product line of swept wavelength test and measurement lasers, for the manufacturing plant floor.