II-VI Incorporated IIVI
announced today that it has acquired all of the outstanding shares of
LightWorks Optics, Inc. (LightWorks). The initial consideration consisted of
cash of approximately $31 million. In addition, the agreement provides for
approximately $4 million of cash earn-out opportunities based upon LightWorks
achieving certain future financial targets and is subject to customary closing
adjustments including a working capital adjustment.
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