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Friday, May 16, 2008
Optium sold; boss Gertel to run buyer Finisar

  Optium Corp., the Horsham optics equipment maker run by JDS Uniphase veteran Eitan Gertel, said today it's agreed to be bought by local-area networks compoment maker Finisar Corp., Sunnyvale, Calif., for around $212 million in a stock deal, pending shareholder approval.
  Gertel, a Drexel grad who's raising his family in the area, will run the combined companies as CEO.
  There's been no announcement on which town will be HQ, but Optium spokeswoman Veronica Rosa said the deal could mean more work for around 250 programmers, designers and managers in Horsham.
   Optium outsources manufacturing, while Finisar still does some of its own, though that's under review, company officials told investors in a morning conference call.
  

 

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About Joseph N. DiStefano
Your source for M&A, commercial real estate and private equity news in Philadelphia and nearby. By Inquirer business reporter Joseph N. DiStefano. Joe has worked for the Inquirer, mostly, since 1988. Last year he covered Citigroup for Bloomberg News. He's the author of Comcasted, a book about Philadelphia’s most-valuable company. He holds a degree in economics from Penn.