Stratos sells Semiconductor business

Fiber Optics Weekly Update, May 30, 2003

Stratos Lightwave, a supplier of optical subsystems, announced that it has completed its previously announced decision to sell its Bandwidth Semiconductor subsidiary located in Hudson, New Hampshire, for an undisclosed amount of cash and the assumption of certain obligations, to Spire Corporation of Bedford, Massachusetts.

The company believes that the sale of its Bandwidth Semiconductor subsidiary will enable it to continue to focus on future opportunities, by divesting non-core units or product lines, and by continuing to take advantage of acquisition opportunities for key enabling technologies. At the same time, Stratos believes that continued careful cost reductions, to further reduce cash bum and breakeven levels, will help it focus its resources where they will provide the best, long-term results. No other terms of the sale were disclosed.