Market Overview

UPDATE: Oclaro to Sell Thin Film Filter Unit, Interleaver Product Line to II-VI

Share:
Related OCLR
Watch These 7 Huge Call Purchases In Wednesday Trade
22 Biggest Mid-Day Gainers For Wednesday
Related IIVI
10 Stocks That Plummeted The Past Three Days On Increasing Volume
Stocks Hitting 52-Week Highs
Buy FedEx On Holiday Strength - Cramer's Lightning Round (12/06/16) (Seeking Alpha)

Oclaro, Inc. (NASDAQ: 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 (NASDAQ: 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.

Posted-In: News Asset Sales

 

Related Articles (IIVI + OCLR)

View Comments and Join the Discussion!