JDS Uniphase Corp. (Ottawa, Ontario) and Adept Technology Inc. (San Jose, CA) announced that they have signed definitive agreements to enter into an automation development alliance for component and module manufacturing. Through this alliance, Adept will be JDS Uniphase's development partner for automation processes and solutions, and JDS Uniphase will make an investment of $25.0 million in Adept convertible preferred stock.
This alliance continues and extends the companies' year-long development and supply relationship. Subject to the foregoing, the two companies are free to pursue development initiatives with other parties.
"This agreement with Adept represents another important step in our global manufacturing strategy," commented Jozef Straus, JDS Uniphase co-chairman, president and CEO. "We believe Adept's technology can provide a solid foundation to enable us to develop a broad range of new products with higher performance and increased complexity."
Brian Carlisle, chairman and CEO of Adept, said, "We are very excited about this expansion of our relationship with JDS Uniphase, and the opportunity to work jointly on new generations of automation solutions. It was clear in our earliest discussions that JDS Uniphase recognizes the need for flexible automation to increase yields and reduce manufacturing costs."
