Following its upcoming split into two companies, JDSU’s stand-alone Communications and Commercial Optical Products (CCOP) business segment will be called Lumentum while its Network Enablement (NE), Service Enablement (SE) and Optical Security and Performance Products (OSP) business will be named Viavi. JDSU anticipates that the split will occur by Q3 this year.
The new Lumentum brand was chosen to reflect CCOP’s leadership in optical technologies, commitment to driving innovation, and its ability to effectively address its customers’ unique requirements while scaling with quality through well-established technological and operational expertise. The company will be a global leader in optical components and subsystems for the telecommunications market, with high growth opportunities in data communications, driven by the rapid expansion of cloud networking and data center infrastructure, and in high performance lasers for both macro and micro materials processing applications. The company will be led by Alan Lowe as chief executive officer. He joined JDSU in September 2007 as senior vice president of the Lasers business and became president of JDSU’s newly formed CCOP business segment in 2008, which combined JDSU’s Optical Communications and Lasers businesses.
Viavi Solutions, which includes JDSU’s Network Enablement, Service Enablement and Optical Security and Performance Products will provide solutions for end-to-end network and application visibility from a portfolio of instruments, software and services. These solutions address its customers’ need to profitably scale to meet the demands of the fast-growing volume of connected devices and applications, and to transition to virtualized, software-based networks. In addition, Viavi’s OSP business is a leader in anti-counterfeiting solutions for currency authentication and high-value optical components and instruments for security, safety, electronics and other applications. Tom Waechter, JDSU’s current president and chief executive officer, will continue to lead Viavi. He became president and chief executive officer of JDSU in January 2009.
Current JDSU stockholders will own shares in both corporations following the separation.
“The creation of new brands and the Form 10 filing are important milestones as we move toward separation,” said Tom Waechter, president and chief executive officer of JDSU. “Each company will remain committed to continued innovation, and will be led by proven management teams prepared to execute growth strategies designed to help our customers successfully manage the complex opportunities that come with the ever-accelerating pace of technological change. We are creating two unique brands – both representing well-established expertise and market leadership – and positioning them with greater customer focus and agility.”
http://www.jdsu.com/About-JDSU/Separation/Pages/information.aspx
- JDSU first announced plans to split into two publicly traded companies in September 2014.
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Procera Networks reported Q4 2014 revenue of $24.2 million, compared with $21.3 million in the fourth quarter of 2013, representing a 13% increase. Revenue for fiscal year 2014 was $75.4 million, compared with $74.7 million for fiscal year 2013, a 1% increase.GAAP net loss for the fourth quarter of 2014 was $1.7 million, or $0.08 per diluted share, compared with a GAAP net loss of $3.3 million, or $0.16 per diluted share, for the fourth quarter of 2013.
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