Uniphase Surges on Fiber-Optics Investment

Uniphase Corp. stock jumped 13% after the laser equipment maker said it invested in a private Australian company that is working on a promising fiber-optics technology. Stock in San Jose-based Uniphase gained $8.19 to $69.44 in Nasdaq trading. The company said it agreed to buy a 49% stake in Sydney-based Indx, which is working on a technology called fiber-optic reflection filters for wavelength division multiplexing. The technology could significantly boost the amount of information that fiber-optic telecommunication lines can carry. Uniphase, which makes laser-based diagnostic gear for semiconductor firms and telecommunications equipment, said it also has the option to buy the rest of Indx. Other terms of the transaction were not disclosed.