MOUNTAIN VIEW, Calif., July 17 -- Ditech Communications Corp., a developer of voice intelligibility technology for communications networks, announced yesterday it has completed the sale of its optical communications business unit to JDS Uniphase. Ditech said the transaction enables it to focus on its voice business and adds to JDS Uniphase's abilities to integrate optics, electronics and software in subsystems for optical equipment manufacturers.
JDS Uniphase paid approximately $1.6 million in cash at the closing and will make additional payments of up to $4.9 million in cash based on the revenue generated by the acquired business through June 30, 2005. As part of the deal, JDS Uniphase is entitled to be reimbursed for any purchased inventory that remains unused by June 30, 2004.
"The sale of our optical business realizes our goal to concentrate solely on what has traditionally been our greatest source of revenue, our voice business," said Tim Montgomery, Ditech's chairman, president and CEO. "Our renewed focus on one business and our continued investment in product development in the voice market gives us the opportunity for growth and the greatest ability to deliver value to our customers and investors."
For more information, visit: www.ditechcom.com