Oclaro is a US-based business manufacturing and selling optical components. Formerly listed on the London Stock Exchange and a constituent of the FTSE 100 Index, the company now trades on the NASDAQ. The Company was founded in the United Kingdom in 1988 as Bookham Technology. It became the first company to make optical components that can be integrated into a silicon integrated circuit. In 2002 the Company expanded substantially when it acquired the optical components businesses of Marconi and Nortel Networks. In 2003 it acquired Cierra Photonics of Santa Rosa, California, and New Focus, a US business, for £118 million. In 2004 it acquired Onetta, Inc. and became a US-domiciled company. In March 2006, Bookham acquired Avalon Photonics based in Zurich, Switzerland Avanex Corporation was incorporated in 1997 and had their initial public offering on 4 February 2000 raising $216 million, and was based in Fremont, California. By 2002 (after the dot-com bubble had burst) restructuring included shutting down a plant in Richardson, Texas. In 2003 Avanex acquired Alcatel Optronics France SA from Alcatel and the photonic technology business of Corning Incorporated.