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Oclaro, Inc.
OCLR, a
tier-one provider and innovator of optical communications and laser solutions,
today announced that it has signed a definitive agreement to sell the assets
of its Santa Rosa thin film filter business to Photop Technologies, Inc., a
wholly-owned subsidiary of II-VI Incorporated
IIVI, a global leader
in engineered materials and opto-electronic components. Pursuant to the
agreement, Oclaro will also sell its interleaver product line to Photop
Koncent, Inc. (FuZhou), a wholly owned subsidiary of II-VI. Both transactions
are expected to close December 3, 2012.
Total consideration to Oclaro for these transactions will be in the form of
cash proceeds of $27 million, with $23 million to be paid upon closing, $3
million payable on or before December 28, 2012 and $1 million to be held in
escrow until December 31, 2013.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted In: NewsAsset Sales
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