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NOVEMBER 1, 2007 --Oplink Communications Inc. (search for Oplink) today announced that it has completed the acquisition of the remaining 42% of outstanding common stock of Optical Communication Products, Inc. (OCP; search for OCP) that it did not already own, by means of a merger between OCP and a wholly owned subsidiary of Oplink.
The merger was approved earlier today by OCP shareholders holding more than two-thirds of the OCP common stock not held by Oplink. The merger became effective immediately after the close of trading today. As a result of the merger, OCP became a wholly owned subsidiary of Oplink. Oplink will pay $1.65 per share, or approximately $80 million in the aggregate, to former holders of the 42% of OCP common stock not held by Oplink.
"We are pleased that the shareholders approved the acquisition and we can move forward," commented Joe Liu, president and CEO of Oplink. "We look forward to integrating OCP with Oplink and being able to provide our combined customer base a broader product portfolio of offerings."
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