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JDSU to split into 2 companies
2014-09-11 09:18:00| Telecompaper Headlines
(Telecompaper) JDSU announced a plan to separate into two publicly traded companies, an optical components and commercial lasers company and a network and services company. The former, called CCOP, would consist of JDSU's current Communications and Commercial Optical Products segment, while the latter includes the Network Enablement, Service Enablement and Optical Security and Performance Products segments. The separation is expected to occur through a tax-free pro rata spin-off of CCOP to JDSU shareholders. JDSU said the split will allow CCOP to focus more on its position in telecom, expand its position in the high-growth datacom market, and grow its commercial lasers and 3-D sensing businesses, while NSE can transition to a more software-centric company aligned with the industry's shift to software defined networks. Alan Lowe, CCOP's president since 2008 and executive vice president of JDSU, is the CEO-designate of the CCOP stand-alone company, while JDSU CEO Tom Waechter will continue as head of the networks company. JDSU expects to complete the split in the third quarter, subject to regulatory approvals.
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Category:Telecommunications