1/19, 2:45 PM (Source: TeleTrader)
more TeleTrader news

Lumentum to acquire Coherent for $5.7 billion

Telecommunications equipment company Lumentum Holdings Inc. announced on Tuesday that it will buy Coherent Inc. in a cash and stock transaction valued at $5.7 billion. The deal, which was approved by the boards of both companies, is expected to close in the second half of 2021. The acquisition will be accretive to non-GAAP earnings per share during the first full year after closing, Lumentum said.

"Together, we expect to increase the pace of innovation, and to be at the forefront of the long-term market trends that are dependent on the capabilities of photonics. The combined company will also have a strong financial profile with a diversified revenue mix and significant synergy opportunities that will deliver enhanced value to our stockholders," said Alan Lowe, Lumentum president and CEO.

Breaking the News / DJ