JDSU (NASDAQ: JDSU) says it will spin off its Communications and Commercial Optical Products (CCOP) business into publicly traded Lumentum Holdings Inc. in August. While August is within the third quarter target for the separation the company originally set (see "JDSU to split in two"), it suggests that momentum behind Lumentum's creation has accelerated.
Filings with the Securities and Exchange Commission call for a distribution date of July 26, 2015. JDSU says it continues to work the regulatory process, and will confirm definitive separation, record and distribution dates once it finishes this gauntlet.
Meanwhile, JDSU staffers who will become employees of Lumentum have already had their email addresses switched to "@lumentum.com."
Once Lumentum begins its new journey, the remaining parts of JDSU – principally, the network and service enablement operations – will recast themselves as Viavi Solutions. This company also will be publicly traded (see "JDSU reveals Lumentum, Viavi boards of directors").
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Stephen Hardy | Editorial Director and Associate Publisher
Stephen Hardy has covered fiber optics for more than 15 years, and communications and technology for more than 30 years. He is responsible for establishing and executing Lightwave's editorial strategy across its digital magazine, website, newsletters, research and other information products. He has won multiple awards for his writing.
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