Ad
Ad
Ad
Ad
Ad
Ad
© Apple - for illustrative purposes Business | September 25, 2019

II-VI Incorporated completes its acquisition of Finisar

II‐VI Incorporated has successfully completed the acquisition of Finisar Corporation. The acquisition of Finisar was first announced on November 9, 2018.

Under the terms of the merger agreement, Finisar shareholders will receive on average USD 15.60 in cash and 0.2218 shares of II-VI common stock per 1.0 share of Finisar common stock depending on each shareholder’s election as laid out in the merger agreement. The company expects to achieve USD 150 million in run rate synergies over the next three years. “Today our company is taking a giant leap forward in our scale to serve a significantly increasing addressable market,” said Dr. Vincent D. Mattera, Jr., Chief Executive Officer, II-VI Incorporated. “The powerful combination of II-VI and Finisar makes us the global leader in optical communications and continues our leadership in our other key end markets, with a world-class product portfolio and deep technology expertise that enables us to offer more tightly integrated solutions and exceptional overall value for our customers.” “With nearly 80 years of combined business leadership in photonics and compound semiconductors, it makes sense for Finisar to join the II-VI family to continue to deliver the best products and solutions possible,” said Todd Swanson, Finisar’s Chief Operating Officer and co-CEO. “Thanks to the talents of numerous individuals across this new global powerhouse, II-VI and Finisar are ready to merge into one highly efficient and seamless company with a common culture, vision and mission.”
Ad
Ad
Load more news
October 11 2019 3:09 pm V14.5.0-1