OCTOBER 24--Adept Technology Inc. (San Jose, CA; www.adept.com) and JDS Uniphase Corp. (Ottawa, Ontario, Canada; www.jdsuniphase.com) have signed definitive agreements to enter into an automation-development alliance for optical-component and module manufacturing. Through this alliance, Adept will be JDS Uniphase's development partner for optical automation processes and solutions, and JDS Uniphase will make an investment of $25 million in Adept convertible preferred stock.
This alliance continues and extends the two companies' year-long development and supply relationship. Adept will continue its work with the JDS Uniphase internal automation organization, Optical Process Automation, to develop solutions for component- and module-manufacturing processes and specifically submicron tolerance assemblies. JDS Uniphase will have sole right for fiberoptic application of new products and technologies developed pursuant to this alliannce, while Adept will have th right to market such products and technologies for use in other industries. Subject to the foregoing, the two companies are free to pursue development initiatives with other parties.
The agreements remain subject to customary closing conditions and are expected to be completed shortly.
