Lumentum Holdings Inc. and Coherent, Inc. January 19 announced that they entered into a definitive agreement under which Lumentum will acquire Coherent in a cash and stock transaction valued at $5.7 billion, as it was informed by Lumentum.
Under the terms of the agreement, which has been unanimously approved by the Boards of Directors of both companies, Coherent stockholders will receive $100.00 per share in cash and 1.1851 shares of Lumentum common stock for each Coherent share they own. At closing, Coherent stockholders are expected to own approximately 27% percent of the combined company.
The combination will create a leading photonics company with significant positions in the growing market for photonics. The combination accelerates Lumentum’s exposure and penetration of the more than $10 billion market for lasers and photonics.
Lumentum is a major designer and manufacturer of innovative optical and photonic products enabling optical networking and laser applications worldwide. Lumentum is headquartered in San Jose, California with R&D, manufacturing, and sales offices worldwide.
Founded in 1966, Coherent, Inc. is a global provider of lasers and laser-based technology for scientific, commercial and industrial customers. The common stock is listed on the Nasdaq Global Select Market and is part of the Russell 1000 and Standard & Poor’s MidCap 400 Index.
