NeoPhotonics Agrees to Sell to Lumentum for $918 Million
Palo Alto – November 8, 2021 – Cooley advised NeoPhotonics, a developer and manufacturer of optoelectronic solutions, on its agreement to sell to Lumentum for $918 million. Lawyers Steve Tonsfeldt, Ian Nussbaum, John Sellers and Rishab Kumar led the Cooley team advising NeoPhotonics.
The acquisition of NeoPhotonics expands Lumentum’s opportunity in some of the fastest-growing areas of the more than $10 billion market for optical components used in cloud and telecom network infrastructure. The integrated company will be better positioned to serve the needs of a global customer base that’s increasingly utilizing photonics to accelerate the shift to digital and virtual approaches to work and life, the proliferation of the Internet of Things, 5G and next-generation mobile networks, and the transition to advanced cloud computing architectures. The combination creates a stronger partner for customers, and it gives the company the ability to invest strongly in innovation and manufacturing capacity.
“Today’s announcement is an exciting milestone for NeoPhotonics,” Tim Jenks, president, CEO and chairman of NeoPhotonics, said in a news release. “The increasing global demand for our ultra-pure light tunable lasers and photonics technologies for speed over distance applications is more apparent than ever, and Lumentum is the ideal partner to serve our customers on a larger scale.”
Headquartered in San Jose, California, NeoPhotonics develops and manufactures lasers that transmit, receive and switch high-speed digital optical signals for cloud and hyper-scale data center internet content providers and telecom networks. The company’s products enable cost-effective, high-speed over distance data transmission and efficient allocation of bandwidth in optical networks.
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