JDSU

JDS Uniphase Corporation was a company that designed and manufactured products for optical communications networks, communications test and measurement equipment, lasers, optical solutions for authentication and decorative applications, and other custom optics. It was headquartered in Milpitas, California. It was formerly known as JDS Uniphase, prior to a rebranding of its corporate image on September 14, 2005. The legal entity was called JDS Uniphase Corporation, but more commonly called JDSU. In August 2015, JDSU split into two different companies: Viavi Solutions and Lumentum Holdings.

JDS Uniphase Corporation
JDSU
Public
Traded asNASDAQ: JDSU
IndustryOptical products and broadband communications
FateSplit into Viavi Solutions and Lumentum Holdings
Predecessor
  • JDS Fitel
  • Uniphase Corporation (1999)
Successor
Founded1999 
Defunct2015
HeadquartersMilpitas, California, USA[1]
Number of locations
80 offices, serving customers in more than 160 countries
Key people
Thomas H. Waechter[1]
(CEO, President and Director)
David W. Vellequette
(CFO)
Products
  • Communications test and measurement equipment; optical communications components, modules, and subsystems.
  • Lasers used for biotechnology, semiconductor manufacturing, and materials processing.
  • Thin film coatings, components, and assemblies used to manage light for displays, instrumentation, office automation, and aerospace/defense.
  • Optical solutions for brand protection and document authentication; and decorative coatings for brand enhancement and differentiation
Revenue US$ 1.709 billion (2015)[2]
US$ -88.1 million (2015)[2]
US$ -88.1 million (2015)[2]
Total assets US$ 2.218 billion (2015)[2]
Total equity US$ 1.101 billion (2015)[2]
Number of employees
5,100 (2015)[1]
ParentVIAVI Solutions 
WebsiteJDSU.com

History

Uniphase was started in 1979 in a San Jose, California garage, and made lasers for chip makers and scanners.[3]

In 1981, JDS Optics was founded in Canada by Jozef Straus, Philip Garel-Jones, Gary Duck, and Bill Sinclair. The "JDS" is short for Jones, Duck and Straus/Sinclair.[4] The company became JDS Fitel when it formed a partnership with Fitel, a fiber optic and optical connector company.[5]

In 1999, JDSU was formed by the merger between JDS Fitel and Uniphase,[6] and became known as JDS Uniphase subsequent to the merger.[7]

Three other major fiber companies were acquired by JDS Uniphase during the telecom boom: Optical Coating Laboratory Inc. (OCLI), bought for $6.2 billion and based in Santa Rosa, California,[8] E-TEK Dynamics, bought for $15 billion, and SDL, bought for $45 billion, both based in San Jose, California.[9]

In 2003, CEO Straus retired, and the company moved its headquarters to San Jose, California, to consolidate its business.[10]

In August 3, 2005, the company acquired test and measurement equipment company Acterna for $760 million, which became part of JDSU's Test and Measurement Group.[11] Acterna had been formed by the May 2000 merger of network test solutions developer Wavetek Wandel Goltermann (WWG) and hand-held test equipment developer TTC.[12]

In 2006, the company moved its headquarters to Milpitas, California.

In December 2013, the company announced it was acquiring fellow network performance management company Network Instruments, for $200 million.[13]

On August 1, 2015 JDSU split into Viavi Solutions and Lumentum Holdings Inc.[14]

Stock

During the 1990s, JDS Uniphase stock was a high-flyer tech stock investor favorite. Its stock price doubled three times and three stock splits of 2:1 occurred roughly every 90 days during the last half of 1999 through early 2000, making millionaires of many employees who were stock option holders, and further enabling JDS Uniphase to go on an acquisition and merger binge. After the telecom downturn, JDS Uniphase announced in late July 2001 the largest (up to then) write-down of goodwill. Employment soon dropped as part of the Global Realignment Program from nearly 29,000 to approximately 5,300, many of its factories and facilities were closed around the world, and the stock price dropped from $153 per share to less than $2 per share.

On September 23, 2005, JDSU announced a reverse stock split one-to-eight.[15]

Shareholder litigation

After the 2001 crash of the telecommunications industry, the state of Connecticut filed a lawsuit against the company and four key executives, claiming that they had misled and hid from company shareholders advance knowledge of the company's impending downturn. Unlike most similar lawsuits, which are dismissed or settled before trial, Connecticut's lawsuit went to trial in October, 2007. JDSU was acquitted of all charges in November, 2007.[16]

gollark: Ah, it looks very hackery, you see.
gollark: processor : 0vendor_id : AuthenticAMDcpu family : 23model : 1model name : AMD Ryzen 3 1200 Quad-Core Processorstepping : 1microcode : 0x800111ccpu MHz : 3410.279cache size : 512 KBphysical id : 0siblings : 4core id : 0cpu cores : 4apicid : 0initial apicid : 0fpu : yesfpu_exception : yescpuid level : 13wp : yesflags : fpu vme de pse tsc msr pae mce cx8 apic sep mtrr pge mca cmov pat pse36 clflush mmx fxsr sse sse2 ht syscall nx mmxext fxsr_opt pdpe1gb rdtscp lm constant_tsc rep_good nopl nonstop_tsc cpuid extd_apicid aperfmperf pni pclmulqdq monitor ssse3 fma cx16 sse4_1 sse4_2 movbe popcnt aes xsave avx f16c rdrand lahf_lm cmp_legacy svm extapic cr8_legacy abm sse4a misalignsse 3dnowprefetch osvw skinit wdt tce topoext perfctr_core perfctr_nb bpext perfctr_llc mwaitx cpb hw_pstate sme ssbd sev vmmcall fsgsbase bmi1 avx2 smep bmi2 rdseed adx smap clflushopt sha_ni xsaveopt xsavec xgetbv1 xsaves clzero irperf xsaveerptr arat npt lbrv svm_lock nrip_save tsc_scale vmcb_clean flushbyasid decodeassists pausefilter pfthreshold avic v_vmsave_vmload vgif overflow_recov succor smcabugs : sysret_ss_attrs null_seg spectre_v1 spectre_v2 spec_store_bypassbogomips : 6989.20TLB size : 2560 4K pagesclflush size : 64cache_alignment : 64address sizes : 43 bits physical, 48 bits virtualpower management: ts ttp tm hwpstate eff_freq_ro [13] [14]
gollark: I mean, you might accidentally hack into the pentagon, and then if you hit the virtual firewall they'll backtrace your IP with visual basic.
gollark: Yes, well.
gollark: `/usr/bin/hack --master /dev/fbi`

References
  1. "More On JDSU; Profile". Yahoo! Finance. July 1, 2011. Retrieved March 18, 2015.
  2. "FY11 Form 10-K". Viavi Solutions Inc. 2015-08-25. Retrieved 2016-10-13.
  3. Malik, Om (2003-05-30). Broadbandits: Inside the $750 Billion Telecom Heist. John Wiley & Sons. p. 284. ISBN 0471434051. uniphase 1979.
  4. "THE SPEED OF LIGHT". theglobeandmail.com. 2009-03-21. Retrieved 2016-10-13.
  5. "What's new with JDSU in Ottawa?". obj.ca. 2013-05-03. Archived from the original on 2016-10-14. Retrieved 2016-10-13.
  6. "Uniphase and JDS Fitel Agree to Merge". nytimes.com. 1999-01-29. Retrieved 2016-10-13.
  7. "JDS Fitel merges with U.S. company". cbc.ca. 1999-01-29. Retrieved 2016-10-13.
  8. "Evolving JDS Uniphase to acquire OCLI". laserfocusworld.com. 1999-11-15. Retrieved 2016-10-13.
  9. "Gorilla In the Midst JDS Uniphase is poised to become king of the fiber-optics jungle. Is it too late to swing along?". fortune.com. 2000-08-14. Retrieved 2016-10-13.
  10. "JDS to shut Ottawa HQ as Straus departs". theglobeandmail.com. 2003-08-22. Retrieved 2016-10-13.
  11. "JDS Uniphase jumps into triple-play testing with Acterna acquisition". lightwaveonline.com. 2005-05-24. Retrieved 2016-11-09.
  12. "JDS Uniphase jumps into triple-play testing with Acterna acquisition". frost.com. 2005-03-08. Retrieved 2016-11-09.
  13. "JDSU Acquires Network Instruments". lightreading.com. 2013-12-11. Retrieved 2016-10-13.
  14. "Viavi Solutions, Lumentum begin life as JDSU is no more". lightwaveonline.com. 2013-08-03. Retrieved 2016-10-13.
  15. "JDS Uniphase stock: Just walk on by". usatoday.com. 2010-08-26. Retrieved 2016-10-13.
  16. Chris O'Brien (November 27, 2007). "Jury clears former JDSU execs". San Jose Mercury News. Retrieved 2016-10-13.

Litigation references

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