II-VI acquires thin film filter and interleaver businesses from Oclaro
San Jose, CA--Oclaro (NASDAQ: OCLR) is selling the assets of its Santa Rosa thin film filter business to Photop Technologies, a subsidiary of II-VI Incorporated (NASDAQ:IIVI; Saxonburg, PA). Oclaro is also selling its interleaver product line to Photop Koncent (FuZhou, China), another subsidiary of II-VI. The transactions, eventually totaling $27 million in cash, are expected to close December 3, 2012
"Divesting our thin film filter business and the interleaver product line is consistent with our strategy to focus our resources on our core competencies," said Alain Couder, chairman and CEO of Oclaro. "The proceeds from these deals improve our balance sheet and give us additional operating flexibility to serve our global customer base. The agreements also strengthen our existing relationships with II-VI and Photop." The acquisition is expected to help Photop expand it global footprint and diversification into the growing life sciences market.
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.