II-VI Inc. Saxonburg-based opto-electronic announces its aquision of CoAdna Holdings Inc. of Sunnyvale, Calif. in a cash transaction valued at $85 million.
II-VI Incorporated is a global leader in engineered materials and optoelectronic components is a vertically integrated manufacturing company that develops innovative products for diversified applications in the industrial, optical communications, military, life sciences, semiconductor equipment, and consumer markets. The Company produces variety of application-specific photonic and electronic materials and components, and deploys them in various forms, including integrated with advanced software.
CoAdna Holding are highly integrated, intelligent optical components, modules and sub-systems, such as LC devices, WSS, and ROADM, etc., based on its patented LightFlow™ platform.
II-VI Inc. to expand their business
This deal includes II-VI acquiring approximately $40 million (CoAdna cash) which is expected to close in the third quarter pending approval by regulators and CoAdna’s shareholders. CoAdna and II-VI had been business partners for many years, according to Sunny Sun, president, Photonics Segment, II-VI.
II-VI Incorporated President, Photonics Segment Sunny Sun said in a statement that both the companies had been a great business partners for many years, leveraging each other’s complementary products and technologies to serve the optical transport market. They are eager to realize their synergies to grow the WSS business over their strong sales channels and shorten the time to market for their new products. With their manufacturing scale, unmatched vertical integration and broad product portfolio, they are well positioned for the growth in ROADM demand driven by metro network upgrades, new datacentre interconnects architectures and the emerging 5G wireless infrastructure.