From the JDSU news release of January 30, 2014:

JDSU Acquires Time-Bandwidth Products, a company founded in 1994 as a spin-off of the Ultrafast Laser Physics group at the Swiss Federal Institute of Technology, was acquired by JDSU, a leader in the fastest-growing segments of the optical-networking market: tunable XFPs, transport blades, and reconfigurable optical add/drop multiplexers (ROADMs) to strengthen its Leadership Position as Provider of Lasers for Micromachining. JDSU closed the acquisition of Time-Bandwidth Products on January 26, 2014.

The acquisition of Time-Bandwidth Products strengthens JDSU’s position as a leading provider of lasers for micromachining applications. According to independent market research firm Strategies Unlimited, the market for micromachining is expected to grow to $752 million in 2015, and the ultrafast laser segment of this market is expected to grow by 20 percent to $183 million.
Use of ultrafast lasers for micromachining applications is being driven primarily by increasing use of consumer electronics and connected devices globally. Manufacturers are taking advantage of high-power and ultrafast lasers to create quality micro parts for consumer electronics and to process semiconductor chips for consumer devices.

Ultrafast lasers can rapidly and precisely process parts at high volumes and use very short light pulses during the manufacturing process to minimize heat, which can negatively impact the quality and functionality of the processed part.
Based in Zurich, Switzerland, Time-Bandwidth Products adds innovative laser technology to JDSU that complements JDSU’s current laser portfolio, while enabling Time-Bandwidth Products to leverage JDSU’s high volume and low-cost manufacturing model, global sales team and channel relationships.

“For nearly twenty years, Time-Bandwidth Products has been developing ultrafast lasers that provide industrial-level reliability with the performance required for material-processing applications,” said Kurt Weingarten, president and CEO of Time-Bandwidth Products. “Combining our expertise in ultrafast lasers for micromachining with JDSU’s expertise at vertical integration and high-volume manufacturing will enable JDSU to bring powerful new laser solutions to the market.”