You are here

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.


BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to