SDL Finalizes $2.2B PIRI Buy

SAN JOSE, CALIF.-- SDL, Inc. (Nasdaq: SDLI) announced today the closing of the previously announced acquisition of Photonic Integration Research, Inc. (PIRI). As required by the agreement signed on May 10, 2000, SDL has issued 8,461,663 shares of SDL, Inc. stock and transferred $31.7 million in cash in exchange for all of the stock of PIRI. The total consideration is valued at approximately $2.2 billion based on the June 2, 2000 closing stock price of SDL.

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