II-VI Incorporated Announces Signing of Agreement to Purchase Oclaro, Inc.'s Fiber Amplifier and Micro-Optics Business

II-VI Incorporated

announced today that it has signed an asset purchase agreement to acquire the fiber amplifier and micro-optics business (the "Business") of Oclaro, Inc.

in a transaction valued at $88.6 million. The effective date of the closing is dependent upon the receipt of certain regulatory clearances and is expected to close on or about November 1, 2013. II-VI had previously disclosed its interest in the Business on September 12, 2013 when II-VI disclosed it had purchased for $5 million an exclusive option to acquire the Business. The acquisition of the Business will complement the Zurich, Switzerland–based semiconductor laser business of Oclaro that was acquired by II-VI on September 12, 2013 and is consistent with the Company's strategy to focus on precision engineered materials and opto-electronic component businesses. The Business will be included in the Company's Active Optical Products Segment for financial reporting purposes. Francis J. Kramer, president and chief executive officer of II-VI Incorporated, stated "We are pleased to add a broad portfolio of world-class, fully customized solutions to provide customers with end-to-end design and manufacturing support to enable the rapid realization of customer-specific amplification and micro-optics solutions. We will