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II‐VI Incorporated (Nasdaq: IIVI) announced a significant contract exceeding $100 million with Dongguan Tianyu Semiconductor Technology. This agreement involves the supply of 150 mm silicon carbide substrates, starting this quarter and extending into 2023. The deal aims to meet the surging demand for silicon carbide power electronics driven by the electrification of transport and industrial machinery. II-VI's strategic partnership positions Tianyu to capitalize on the expanding markets for electric vehicles and renewable energy, while also reducing carbon emissions and enhancing energy efficiency.
II-VI Incorporated (Nasdaq: IIVI) announced a conference call on August 24, 2022, at 9:00 a.m. ET to discuss its fourth-quarter results for FY 2022, which will be released prior to market opening. The call will feature Dr. Vincent D. Mattera, Jr., Mary Jane Raymond, and Dr. Giovanni Barbarossa. Interested parties can access the live webcast or pre-register for Q&A participation on the company's investor relations website. A replay will be available on the site after 4:00 p.m. ET on the same day.
II‐VI Incorporated (Nasdaq: IIVI) and Artilux have announced a groundbreaking demonstration of a next-generation 3D camera, significantly enhancing the user experience in the metaverse. Utilizing II-VI's indium phosphide semiconductor lasers and Artilux's germanium silicon sensor arrays, this miniature camera operates at 1380 nm for superior image resolution and longer range compared to current 940 nm alternatives. The innovative technology promises to improve depth-sensing applications across consumer and automotive markets, paving the way for immersive augmented and virtual reality experiences.
II-VI Incorporated has successfully completed the acquisition of Coherent, Inc., establishing a global leader in materials, networking, and lasers. The merger allows each share of Coherent stock to convert into $220.00 cash and 0.91 of II-VI stock. The combined company, now named Coherent, will serve four fast-growing markets: industrial, communications, electronics, and instrumentation, with a total addressable market of $65 billion. II-VI aims to leverage its strengths and innovate across diverse sectors, with over 28,000 employees worldwide.
II-VI Incorporated (Nasdaq: IIVI) has secured antitrust clearance from China's State Administration for Market Regulation for its acquisition of Coherent, Inc. (Nasdaq: COHR). This approval meets the merger agreement's requirement for antitrust clearances. The acquisition is expected to finalize around July 1, 2022, with Coherent shareholders receiving $220 in cash and 0.91 shares of II-VI common stock per share. Financial advisors for II-VI include Allen & Company and J.P. Morgan, while Coherent's advisors are Bank of America and Credit Suisse.
II-VI Incorporated and ADVA have unveiled the industry's first 100ZR pluggable coherent transceiver, designed for optical network edges. This transceiver features Steelerton™ DSP and Flextune™ technology, catering to both commercial and industrial temperature ratings. By enabling a straightforward upgrade from 10 Gbps to 100 Gbps Ethernet links, it promises to reduce operational costs and enhance performance. The new product meets bandwidth demands driven by increasing data traffic in 5G and broadband networks, allowing service providers to expand capacity efficiently.
II-VI, a leader in optical modules, announced a key milestone of shipping over 1,000 LightFlow™ Flexband wavelength selective switch (WSS) modules for undersea optical networks. This achievement highlights the growing demand driven by cloud service providers for advanced undersea networks. The company emphasizes its unique position due to the ultrahigh reliability of its liquid-crystal WSS technology, which has been proven in the field for more than 15 years. II-VI offers a diverse range of WSS configurations aimed at enhancing global communication capacity while supporting sustainability.
II-VI Incorporated (Nasdaq: IIVI) has signed renewable energy contracts to power several sites in Asia using 100% renewable electricity, representing 35 GWh of renewable energy and avoiding around 18,000 metric tons of CO2 emissions annually. This initiative supports II-VI's commitment to sustainability and reducing its carbon footprint. With these new agreements, II-VI now sources approximately 38% of its electricity from renewable sources, covering over 40 sites globally with renewable energy contracts.
II-VI Incorporated has successfully completed the tape-out of its Steelerton™ DSP, marking an industry milestone for 100 Gbps coherent transmission in a pluggable QSFP28 form factor. This development aligns with the increasing demand for coherent transceiver technology driven by the growth of 5G and high-speed broadband services. The Steelerton DSP, designed to operate with ultralow power of only 2 W, stands out for its compact size, being less than one-fifth of existing solutions. II-VI aims to democratize access networks with its revolutionary DSP technology.
II-VI Incorporated (Nasdaq: IIVI) has launched its innovative node-on-a-blade platform, enhancing the efficiency of optical networks. This new scalable system features a multi-degree reconfigurable optical add-drop multiplexer (ROADM) and incorporates advanced wavelength selective switch (WSS) technology. As demand for bandwidth escalates in enterprise and cloud data centers, II-VI's platform promises lower deployment costs, simplified operations, and improved scalability through ultrahigh-resolution telemetry. This positions II-VI as a key player in the growing optical communication market.
