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Lumentum to acquire Oclaro for $1.8 billion

Lumentum Holdings and Oclaro have signed a definitive agreement, unanimously approved by the boards of directors of both companies, under which Lumentum will acquire all of the outstanding common stock of Oclaro.

Lumentum is a provider of photonics products for optical networking and lasers for industrial and consumer markets, and Oclaro a focuses on optical components and modules for the long-haul, metro, and data center markets. For each share of Oclaro stock held, Oclaro stockholders will be entitled to receive USD 5.60 in cash and 0.0636 of a share of Lumentum common stock. The transaction values Oclaro at USD 9.99 per share or approximately USD 1.8 billion in equity value. "Joining forces with Oclaro strengthens our product portfolio, broadens our revenue mix, and positions us strongly for the future needs of our customers. Oclaro brings its leading Indium Phosphide laser and Photonic Integrated Circuit and coherent component and module capabilities to Lumentum. The combined company will drive innovation faster and accelerate the development of products to enable our customers to win," said Alan Lowe, Lumentum's President and CEO. "We are delighted to welcome the talented Oclaro team to Lumentum and look forward to a swift completion of the transaction with a focus on supporting our customers and delivering shareholder value." "I am very pleased that two of the optical industry leaders, Oclaro and Lumentum, will join forces. Together, we will be an even stronger player in fiber optic components and modules for high-speed communications and a market leader in 3D sensing. This is a fantastic combination for all of our stakeholders, including stockholders, employees, customers and partners," said Greg Dougherty, Oclaro's CEO, "I am extremely proud of what the Oclaro team has accomplished over the last five years. We have enjoyed tremendous success and this combination will create even more exciting opportunities for the team."

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March 15 2024 2:25 pm V22.4.5-2
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