New Products for JDSU
With the acquisition, JDSU will expand its portfolio of high-value mobility software with the following solutions:
•AriesoGEO - Multi-vendor, location-aware network monitoring and optimization solution that delivers intelligence for more effective network performance engineering. •AriesoACP - Automated network planning technology that searches all possible configurations to deliver optimum network designs.
Both solutions leverage Arieso's proprietary algorithms that provide highly rich and targeted data from mobile connection events that give mobile operators visibility into service level activity and usage patterns.
JDSU also announced that it will be issuing grants of compensatory restricted stock unit awards to employees joining JDSU in connection with the acquisition. The restricted stock unit awards to be granted to those employees by JDSU are generally comparable to equity awards that JDSU grants to its similarly situated new employees. These grants were made under the JDS Uniphase Corporation 2005 Acquisition Equity Incentive Plan, which was approved by the Board of Directors of JDSU, but not submitted for the approval of the stockholders of JDSU.
These restricted stock unit awards were approved by the JDS Uniphase Corporation Board of Directors on March 1, 2013, with such approval being further subject to the close of the acquisition. Pursuant to such approval, on March 15, 2013, JDSU will award restricted stock units covering a total of 207,880 shares of JDSU common stock. Awards will be granted to 12 employees.
The restricted stock units to be granted will contain the same terms and conditions as the standard form of restricted stock unit award agreement previously approved by the Board of Directors of JDSU. The material terms of the standard form of restricted stock unit agreement are as follows. Restricted stock units vest over a three (3) or four (4) year period in equal annual installments commencing upon the first anniversary of the grant date subject to the continuous active service of the grantee.
JDSU (NASDAQ: JDSU) (TSX: JDU) innovates and collaborates with customers to build and operate the highest-performing and highest-value networks in the world. Our diverse technology portfolio also fights counterfeiting and enables high-powered commercial lasers for a range of applications. Learn more about JDSU at www.jdsu.com and follow us on JDSU Perspectives, Twitter, Facebook and YouTube.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include statements or implications regarding: (i) the ability to expand JDSU's presence in certain markets (i) potential synergies between JDSU's and Arieso's products or technologies, (ii) the ability to successfully incorporate Arieso into JDSU's business, (iii) the ability to expand JDSU's position in certain markets or applications, and (iv) estimates of market growth. These forward-looking statements involve risks and uncertainties that, if realized, could cause actual results to differ materially from those projected. These risks and uncertainties include, among other things: (a) our visibility as to future cash flows, future market growth, bookings growth (including the rate of JDSU's Communications Test and Measurement segment and Arieso's products bookings growth for JDSU's fiscal years 2013 and 2014), customer demand and gross margins is limited; (b) existing and new products may not perform as expected, may be subject to development and/or manufacturing difficulties that could delay product deployment or increase costs, may not be accepted by our customers, and may not successfully compete with products offered by our competitors, (c) we may not be able to retain key Arieso employees after the transaction closes; (d) we may have difficulty integrating the Arieso business into our Communications Test and Measurement business segment which could result in interruption of the business operations and difficulty in realization of the benefits of the acquisition; (e) anticipated financial and technology synergies in product innovation and development and services may not materialize; and (f) factors discussed from time to time in reports filed by JDSU with the Securities and Exchange Commission. The forward-looking statements contained in this press release are made as of the date hereof, and the Company does not assume any obligation to update or qualify any of the statements made herein.
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