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SDL Finalizes Acquisition of Photonic Integration Research

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SAN JOSE, Calif., June 7 -- SDL Inc. has completed its acquisition of Photonic Integration Research Inc. (PIRI). Adhering to the May 10, 2000 agreement, SDL issued 8,461,663 shares of its stock and transferred $31.7 million in cash in exchange for 100 percent of PIRI stock. Based on SDL's June 2, 2000 closing stock price, the total consideration is valued at about $2.2 billion. Located in Columbus, Ohio, PIRI manufactures arrayed waveguide gratings that allow for individual wavelength channels to be routed in fiber optic systems. This technology is used in optical multiplexing and...Read full article

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    Published: June 2000
    CommunicationsNews & Features

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