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Today's Transactions:
II-VI Buys LightWorks for $31M

The target manufactures precision optical systems

II-VI Inc. (Nasdaq: IIVI) has purchased LightWorks Optics Inc. for $31 million in cash.

Tustin, Calif.-based LightWorks manufactures precision optical systems, such as infrared and laser-based systems for the defense, aerospace, industrial and life sciences markets.

II-VI expects the business to complement its military and material business. The buyer makes engineered materials and optical components for the industrial manufacturing, military, aerospace, electronics and telecommunications industries.

B. Riley & Co. LLC advised LightWorks on the deal.

 

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