SAN
JOSE, Calif., Aug. 3, 2022
/PRNewswire/ -- Lumentum Holdings Inc. (NASDAQ: LITE) ("Lumentum"),
today announced that it has completed its previously announced
acquisition of NeoPhotonics Corporation ("NeoPhotonics").
"I am excited to unite NeoPhotonics' differentiated products and
technology and talented team with those of Lumentum," said
Alan Lowe, Lumentum President and
CEO. "This acquisition better positions us for attractive growth
opportunities created by the digital transformation of work and
life, which is driving relentless growth in the needed volumes and
performance of cloud and network infrastructure. I welcome our new
colleagues to the Lumentum team and want to thank NeoPhotonics' CEO
Tim Jenks and the rest of
NeoPhotonics' leadership team for their contributions in getting us
to this important milestone."
Under the terms of the merger agreement, NeoPhotonics
stockholders will receive $16.00 in
cash for each share of NeoPhotonics common stock in accordance with
the terms of the merger agreement.
As previously announced, Lumentum anticipates achieving more
than an estimated $50 million in
annual run-rate synergies within 24 months of the closing of the
transaction. Lumentum financed the transaction consideration with
cash from the combined companies' balance sheets.
Due to the timing of the closing of the NeoPhotonics
acquisition, there is no impact to Lumentum's fiscal fourth quarter
2022. During its fiscal fourth quarter and fiscal year 2022
earnings conference call, which is scheduled for Tuesday, August 16, 2022 at 5:30 a.m. PT / 8:30 a.m.
ET, Lumentum will provide an update on the NeoPhotonics
transaction. More information on this call can be found in the
Investors section on Lumentum's website at
http://investor.lumentum.com.
About Lumentum
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.
About NeoPhotonics
NeoPhotonics is a leading developer and manufacturer of lasers
and optoelectronic solutions that transmit, receive, and switch
high-speed digital optical signals for Cloud and hyper-scale data
center internet content providers and telecom networks.
NeoPhotonics' products enable cost-effective, high-speed over
distance data transmission and efficient allocation of bandwidth in
optical networks. NeoPhotonics maintains headquarters in
San Jose, California and ISO
9001:2015 certified engineering and manufacturing facilities in
Silicon Valley (USA), Japan and China. For additional information visit
www.neophotonics.com.
Forward-Looking
Statements
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 the timing of the transaction and other
information related to the transaction. 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 transaction and our expectations, strategy, plans
or intentions regarding it. Forward-looking statements in this
communication include, but are not limited to, (i) expectations
regarding the timing, completion and expected benefits of the
transaction, (ii) plans, objectives and intentions with respect to
future operations, customers and the market, and (iii) the expected
impact of the transaction on the business of the parties.
Expectations and beliefs regarding these matters may not
materialize, and actual results in future periods are subject to
risks and uncertainties that could cause actual results to differ
materially from those projected. These risks include the effect of
the announcement or pendency of the transaction on our business
relationships, results of operations and business generally; risks
that the transaction disrupts current plans and operations; the
risk of litigation and/or regulatory actions related to the
transaction; potential impacts of the Covid-19 pandemic; changing
supply and demand conditions in the industry; and general market,
political, economic and business conditions. 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 NeoPhotonics and Lumentum with the SEC from time to time and
available at www.sec.gov. These forward-looking statements are
based on current expectations, and with regard to the transaction,
are based on Lumentum's and NeoPhotonics' current expectations,
estimates and projections about the potential benefits thereof, its
business and industry, management's beliefs and certain assumptions
made by Lumentum and NeoPhotonics, all of which are subject to
change. The parties undertake no obligation to update the
information contained in this communication or any other
forward-looking statement.
Category: Financial
Contact Information:
Investors: Kathy Ta, (408)
750-3853; investor.relations@lumentum.com
Media: Sean Ogarrio, (408) 546-5405;
media@lumentum.com
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SOURCE Lumentum