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

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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.
Posted In: NewsAsset Sales
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