Lumentum to buy Oclaro for US$1.8b

[BENGALURU] Laser and optical fibre supplier Lumentum Holdings Inc said on Monday it would buy optical company Oclaro Inc for US$1.8 billion in cash and stock to broaden its portfolio of laser offerings.

The offer price of US$9.99 per share, represents a premium of 27.3 per cent to Oclaro's closing price of US$7.85.

Technology sector analysts say that Lumentum is the main supplier of a crucial part of Apple's new FaceID technology, although neither Apple nor Lumentum has said publicly that this is the case.

REUTERS