MILPITAS, Calif. (CP-AP) - Fiberoptic telecommunications equipment maker JDSU Corp. said on Thursday it will buy Ottawa-based Innocor, which makes equipment to test communications networks.
Financial terms of the deal were not disclosed.
JDSU expects to complete the acquisition before June 30.
The company said the acquisition will expand its own product offerings, customer base and product development capabilities.
JDSU is a supplier of optical technology used in the telecommunications and cable industries.
During the high-tech boom earlier this decade, the company employed as many as 10,000 people in Ottawa and more than 27,000 around the world after a series of acquisitions.
After the telecom industry crashed in 2000 and 2001, JDS Uniphase laid off nearly all its employees in Ottawa in a series of restructurings that affected its operations around the world, and moved its head office to California's Silicon Valley.
