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JDSU To Acquire Picolight

JDS Uniphase Corp. (Nasdaq: JDSU) has agreed to acquire Picolight Inc., a Boulder, Colo.-based maker of optical transceivers and components. The deal includes an initial $115 million payment in JDS stock, plus up to $10 million in cash earn-outs. Picolight has raised around $124 million in total VC funding since its 1996 inception, with current shareholders including Investor Growth Capital, BA Venture Partners, Vesbridge Partners and Coral Capital Management.