Finisar Completes Combination With Optium

Finisar Corporation announced the successful completion of its combination with Optium Corporation. The transaction was approved yesterday by the stockholders of both companies. As of the close of today’s trading day, Optium’s stock will no longer trade on the NASDAQ GMX. Under the terms of the agreement, Optium stockholders will receive 6.262 shares of Finisar common stock for each Optium share.

"This merger is a great milestone for Finisar," stated Jerry Rawls, executive Chairman of Finisar. "By combining with Optium, we have created new industry leadership, with unmatched breadth of products to meet the ever-increasing demand for solutions that expand, manage and optimize optical network bandwidth. The extensive product portfolio and unique manufacturing flexibility resulting from this merger generate a powerful platform for creating added value for our customers and shareholders."

Finisar also announced today the appointment of Eitan Gertel, Optium’s Chairman and Chief Executive Officer, as Chief Executive Officer of Finisar and a member of its board, effective immediately.

Eitan Gertel

Jerry Rawls will continue in his role as executive Chairman of Finisar’s board.

In addition, the following members of the Optium board of directors were appointed to the Finisar board:

• Morgan Jones, a general partner of Battery Ventures, LP, a venture capital firm; and
• Christopher Crespi, co-founder and President of Pacific Realm, LLC, an investment firm, and formerly Managing Director of Banc of America Securities LLC.

"I am pleased to welcome Eitan to the Finisar management team," said Mr. Rawls. "We are already working closely to ensure a smooth integration between the two companies. I am also delighted to welcome Morgan and Chris to the Finisar board. They each bring a wealth of experience that will be valuable as we chart the course for the combined company."

"From a product, industry, customer and business model perspective, this combination is complementary in every way," stated Eitan Gertel, Finisar’s newly appointed Chief Executive Officer. "Our customers will have access to the broadest portfolio of optical communication solutions in the industry, supported by unparalleled technology and global manufacturing resources. We look forward to sharing more about the opportunities each of these areas present at our Analyst and Investor Meeting scheduled for October 7 in New York City. In the meantime, rest assured that we are already working diligently to attain the synergies expected to result from this merger."