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Lumentum Holdings Inc. received notice from Coherent, Inc. regarding an unsolicited acquisition proposal from II-VI Incorporated, which Coherent's Board deemed a "Company Superior Proposal" under its existing merger agreement with Lumentum. Coherent intends to terminate the merger agreement, requiring a $217.6 million termination fee if it proceeds with II-VI. Lumentum will review the proposal, having four business days to respond. Despite this, Lumentum's Board continues to recommend the merger with Coherent to its stockholders.
II-VI Incorporated (Nasdaq: IIVI) will showcase its innovative product portfolio at the SPIE Photonics West Digital Forum from March 6-11, 2021. The company highlights advancements in photonics applications across markets including life sciences, automotive, and communications. New product offerings include a 1060 nm seed laser, ceramic YAG technology, and VCSEL arrays. Dr. Julie Sheridan Eng will present at a session on sensing and imaging solutions. The company also plans to attend several other industry events in 2021 as part of its 50-year anniversary celebrations.
II‐VI Incorporated (Nasdaq: IIVI) is expanding its manufacturing capacity in Santa Rosa, California, aiming to double production of optical filters for PCR instrumentation and 5G networks within five years. The demand for these filters has surged alongside the rise in PCR testing for COVID-19 and the development of 5G infrastructure. The company will commence building out new manufacturing space and procuring necessary equipment, reinforcing its commitment to support PCR testing growth.
II-VI Incorporated (Nasdaq: IIVI) announced its new VCSEL flood illuminator modules aimed at enhancing driver and occupancy monitoring systems in vehicles. These modules are designed to meet increasing regulatory demands for advanced 2D and 3D infrared cameras, offering higher optical power and narrower spectral width compared to current infrared LEDs. The modules support frequencies above 100 MHz, making them suitable for high-performance applications. II-VI plans to ramp production, expecting AEC-Q102 certification for automotive uses by Q2 2021.
II-VI Incorporated (Nasdaq: IIVI) has launched a new ceramic YAG platform aimed at enhancing solid-state lasers and optical components. This innovation is driven by the rising demand for LiDAR systems in advanced driver-assistance systems (ADAS) for vehicles. The proprietary manufacturing process allows for scalability and high doping uniformity, setting II-VI apart from traditional crystalline YAG alternatives. The company is set to showcase its products at the 2021 SPIE Photonics West Digital Forum from March 6-11.
II-VI Incorporated (Nasdaq: IIVI) has launched a new line of multi-wavelength laser modules aimed at life sciences applications, responding to the demand for versatile photonics-based instruments. These modules can feature up to four lasers with output power ranging between 1 mW to 5 W and maintain over 80% near-field intensity uniformity. With ISO-certified facilities, II-VI emphasizes its commitment to high-quality production, supporting various life sciences applications including imaging systems and flow cytometers. The company will present its products at the 2021 SPIE BiOS Digital Marketplace, scheduled for March 6-11, 2021.
II-VI has launched a new 1060 nm seed laser in a compact 3-pin package, aimed at enhancing pulsed fiber lasers in materials processing. This product addresses the growing need for smaller, cost-effective components in the competitive industrial laser market. Leveraging its extensive experience in manufacturing, II-VI can produce this new laser alongside existing telecom pump lasers, benefiting from economies of scale. The company will showcase its products at the SPIE Photonics West Digital Forum from March 6-11, 2021.
II-VI Incorporated (Nasdaq: IIVI) will present at the Raymond James 42nd Annual Institutional Investors Conference on March 2, 2021, at 3:50 p.m. ET. The event will be held virtually, featuring Dr. Chuck Mattera and CFO Mary Jane Raymond as presenters. Investors can access a real-time audio webcast through the Investors section of the II-VI website. A replay will be available after the event. II-VI is a leader in optoelectronic components and engineered materials, serving multiple industries globally.
II-VI Incorporated (Nasdaq: IIVI) has proposed to acquire Coherent, Inc. (Nasdaq: COHR) in a cash and stock transaction valued at $260 per share. This offer includes $130 in cash and 1.3055 II-VI shares, representing a 24.0% premium over Coherent's existing merger agreement with Lumentum and a 9.8% premium over MKS Instruments' proposal. II-VI expects to achieve $200 million in annual cost synergies within 36 months and anticipates that the acquisition will be accretive to non-GAAP EPS in the second year post-closing, creating a global leader in photonic and semiconductor solutions.
II-VI Incorporated (Nasdaq: IIVI) announced the launch of a new reaction-bonded silicon carbide ceramic with an industry-leading thermal conductivity of 255 W/(m-K). This advancement is critical for power electronics applications, enhancing efficiency and reliability. The company plans to expand its production capacity with a new facility in Vietnam, complementing its existing facilities in the U.S. This innovation supports a growing demand in clean energy and power conversion applications, increasing II-VI’s market reach and ensuring supply chain continuity.
