Lumentum Holdings Inc. (NASDAQ: LITE), a designer and manufacturer of optical and photonics products, has acquired NeoPhotonics Corp. (NYSE: NPTN) for $16 per share in cash.
The acquisition will expand Lumentum’s opportunity in cloud and telecom network infrastructure. The new company will be better positioned to serve its global customer base and strengthen its ability to invest in innovation and manufacturing capacity.
“With NeoPhotonics, we’re making another important investment in better serving our customers and expanding our photonics capabilities at a time when photonics are at the forefront of favorable long-term market trends,” said Alan Lowe, Lumentum president and CEO.
“The increasing global demand for our ultra-pure light tunable lasers and photonics technologies for speed over distance applications is more apparent than ever, and Lumentum is the ideal partner to serve our customers on a larger scale,” added Tim Jenks, NeoPhotonics president, CEO, and chairman.
Goldman Sachs & Co. LLC served as the exclusive financial advisor to Lumentum and Wilson Sonsini Goodrich & Rosati, Professional Corporation served as legal advisor. Union Square Advisors LLC served as exclusive financial advisor to NeoPhotonics and Cooley LLP served as legal advisor.