JDS Uniphase seals $340m IBM deal

NEWS Fibre optic manufacturer JDS Uniphase has sealed an agreement set before Christmas to purchase IBM's optical transceiver unit for $340m in cash and stock. The completed deal includes an additional clause for up to another $85m in stock or cash to be paid this time next year depending on the division's future profits. JDS Uniphase gathered a mere $100m in hard cash plus $26.9m in shares of common stock that went up by 8 cents in early trading following the announcement. JDS Uniphase is using the purchase to take it beyond its current telco market and into data communications.