SAN JOSE, Calif., Aug. 15, 2022 /PRNewswire/ -- Lumentum Holdings Inc. (NASDAQ: LITE) ("Lumentum") today announced that it has acquired IPG Photonics' (NASDAQ: IPGP) telecom transmission product lines in an all-cash transaction.
"I am very excited to add such highly complementary and differentiated transceiver product lines and ASIC capabilities, which help to expand our addressable market and augment our technology capabilities," said Dr. Beck Mason, SVP and General Manager, Telecom Transmission at Lumentum. "This acquisition brings a talented team developing digital communications ASICs, including coherent DSPs, which complements our silicon and indium phosphide photonic integrated circuit capabilities and creates opportunities for increased vertical integration in future optical transmission modules."
Dr. Mason added, "Increasingly customers in the cable MSO and wireless network operator space are turning to wavelength tunable pluggable transceivers to help expand their network capacity and this acquisition brings highly synergistic product lines addressing this rapidly growing opportunity."
There is no impact to Lumentum's fiscal fourth quarter 2022 due to this transaction and the terms of the transaction were not disclosed.
Wilson Sonsini Goodrich & Rosati, P.C. served as legal counsel to Lumentum in the transaction.
Lumentum (NASDAQ: LITE) is a market-leading designer and manufacturer of innovative optical and photonic products enabling optical networking and laser applications worldwide. Lumentum optical components and subsystems are part of virtually every type of telecom, enterprise, and data center network. Lumentum lasers enable advanced manufacturing techniques and diverse applications including next-generation 3D sensing capabilities. Lumentum is headquartered in San Jose, California with R&D, manufacturing, and sales offices worldwide. For more information, visit www.lumentum.com and follow Lumentum on LinkedIn, Twitter, Facebook, Instagram, and YouTube.
This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events, including impact of the transaction and potential market opportunities. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern the proposed transaction and our expectations, strategy, plans or intentions regarding it. The forward-looking statements contained in this communication are also subject to other risks and uncertainties, including those more fully described in filings with the Securities and Exchange Commission, including reports filed on Form 10-K, 10-Q and 8-K and in other filings made by Lumentum with the SEC from time to time and available at www.sec.gov. These forward looking statements are based on current expectations, all of which are subject to change. Lumentum undertakes no obligation to update the information contained in this communication or any other forward-looking statement.