II-VI Incorporated acquires magneto-optic materials maker Integrated Photonics
II-VI Incorporated (NASDAQ:IIVI; Saxonburg, PA) announced the acquisition of Integrated Photonics (Hillsborough, NJ) in a cash transaction valued at approximately $45 million. Founded in 2000 as a spinout of the magneto-optic materials group of AT&T Bell Labs, Integrated Photonics manufactures Faraday rotators and single crystal oxide materials for use in optical isolators and other passive optical components for the optical communications market.
The acquisition is a strategic fit for the II-VI Photonics segment. The company says the magneto-optic materials will extend II-VI’s broad portfolio of engineered materials and vertically integrated solutions to further penetrate the fiber laser market and to address emerging applications, particularly in datacenters and the global optical network infrastructure
“The magneto-optic materials engineered at Integrated Photonics are second to none as evidenced by their leading market position and their scalable production lines now running at full capacity,” said Chuck Mattera, President and CEO of II-VI Incorporated. “We are excited about the opportunity to scale the business to satisfy a strong and growing demand that currently exceeds the global supply.”
Source: II-VI Incorporated
Conard Holton | Editor at Large
Conard Holton has 25 years of science and technology editing and writing experience. He was formerly a staff member and consultant for government agencies such as the New York State Energy Research and Development Authority and the International Atomic Energy Agency, and engineering companies such as Bechtel. He joined Laser Focus World in 1997 as senior editor, becoming editor in chief of WDM Solutions, which he founded in 1999. In 2003 he joined Vision Systems Design as editor in chief, while continuing as contributing editor at Laser Focus World. Conard became editor in chief of Laser Focus World in August 2011, a role in which he served through August 2018. He then served as Editor at Large for Laser Focus World and Co-Chair of the Lasers & Photonics Marketplace Seminar from August 2018 through January 2022. He received his B.A. from the University of Pennsylvania, with additional studies at the Colorado School of Mines and Medill School of Journalism at Northwestern University.