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Slide #85. II-VI Incorporated — Oclaro, Inc.
II-VI Incorporated (NASDAQ:IIVI)
II-VI Incorporated (Nasdaq:IIVI) announced today that it has completed the previously-announced acquisition of the fiber amplifier and micro-optics business (the "Business") of Oclaro, Inc. (Nasdaq:OCLR) in a transaction valued at $88.6 million. At closing, II-VI paid $79.6 million in cash to Oclaro, $4 million of cash is subject to hold back until December 31, 2014, and the remaining $5 million was previously paid to Oclaro on September 12, 2013 as an option to purchase the Business. II-VI and Oclaro have entered into certain transition service and manufacturing service agreements to allow the Business to continue operations during the ownership transition. The Business will be included in the Company's Active Optical Products segment for financial reporting purposes.
II-VI develops, manufactures, and markets engineered materials, optoelectronic components, and devices for use in industrial materials processing, optical communications, aerospace and defense, consumer electronics, semiconductor capital equipment, life sciences, and automotive applications and markets. Co.'s products are deployed in a variety of applications, including: laser cutting, welding and marking operations; optical, data, and wireless communications products; laser cutting, welding, and marking operations; three-dimensional sensing consumer applications; aerospace and defense applications including intelligence, surveillance, and reconnaissance; and semiconductor processing tools.
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Buy (2.93 out of 4)