New Focus OKs Deal to Buy JCA Technology
New Focus Inc., a maker of fiber-optic products, has agreed to buy JCA Technology Inc. of Camarillo for $600 million in cash and stock to expand its product offerings.
New Focus said it will pay $575 million in stock and $25 million in cash for JCA, a maker of microwave-based electronic products. It had revenue of $13.9 million for the first nine months of this year and turned a profit, Santa Clara-based New Focus said.
For the purchase, New Focus will issue 5 million to 10 million shares. The number will be determined by the average New Focus stock price for the 10 trading days before closing.
New Focus, which sells products under the Smart Optics brand name, completed an initial public offering in May of 5.7 million shares.
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