SUNNYVALE, Calif. and HORSHAM, Pa., July 1, 2008 (PRIME NEWSWIRE) -- Finisar Corporation (Nasdaq:FNSR) and Optium Corporation (Nasdaq:OPTM) today announced that the U.S. Department of Justice and Federal Trade Commission have granted Finisar early termination of the Hart-Scott-Rodino (HSR) waiting period in conjunction with the proposed combination of the two companies. The merger remains subject to satisfaction of other conditions, including approval of the stockholders of both Finisar and Optium.
On May 16, 2008, Finisar and Optium jointly announced that they had entered into a definitive agreement under which the two companies will be combined through an all-stock merger, creating the world's largest supplier of optical components, modules and subsystems for the communications industry. The combined company will leverage Finisar's leadership position in the storage and data networking industries and Optium's leadership position in the telecommunications and CATV industries.
On June 30, 2008, Finisar filed with the Securities and Exchange Commission its annual report on Form 10-K for its fiscal year ended April 30, 2008. Finisar expects to file with the SEC a registration statement on Form S-4 containing a Joint Proxy Statement/Prospectus relating to the proposed combination within approximately the next two weeks, and Optium plans to simultaneously file with the SEC the same Joint Proxy Statement/Prospectus.
About Finisar
Finisar Corporation (Nasdaq:FNSR) is a global technology leader for fiber optic components and subsystems and network performance test systems. These products enable high-speed data communications for networking and storage applications over Gigabit Ethernet Local Area Networks (LANs), Fibre Channel Storage Area Networks (SANs), and Metropolitan Area Networks (MANs) using Fibre Channel, IP, SAS, SATA and SONET/SDH protocols. The Company's headquarters is in Sunnyvale, CA, USA. Finisar has approximately 4,500 employees. For more information, visit http://www.Finisar.com.
About Optium
Optium Corporation (Nasdaq:OPTM) is a leading designer and manufacturer of high-performance optical subsystems supporting core to the edge applications for use in telecommunications and cable TV network systems. Optium's broad suite of optical transport solutions features fixed and wavelength agile 10Gb/s and 40Gb/s transceivers and subsystems, 10Gb/s pluggable transceivers, cable TV trunking and distribution subsystems and Optium's next generation WSS ROADM product line. Quoted on the NASDAQ Global Market under the symbol "OPTM," Optium is headquartered in Horsham, PA and has offices in Sydney, Australia and Nes Ziona, Israel. Optium has approximately 400 employees.
