PITTSBURGH –– II-VI Incorporated (NASDAQ: IIVI) announced today that it has acquired all of the outstanding shares of Aegis Lightwave, Inc. (Aegis), including Aegis’ wholly-owned subsidiary AOFR Pty Ltd (AOFR). The initial consideration consists of cash of $52 million. In addition, the purchase price is subject to customary closing adjustments including a working capital and debt adjustment which could increase the purchase price by an additional $3 million.

Founded in 2000, Aegis is headquartered in Woburn, Massachusetts with additional locations in New Jersey and Australia. Aegis is a privately-held company that is an industry leader in tunable optical devices required for high speed optical networks that provide the bandwidth expansion necessary for increasing internet traffic. Aegis offers a broad portfolio of cost-effective optical channel monitors specifically designed for reconfigurable optical add-drop multiplexing (ROADM) applications in high speed optical networks featuring 10G/40G/100G transmission. Its AOFR subsidiary is an industry leader in fused fiber components including those required for fiber lasers used in material processing applications. AOFR also manufactures optical couplers used primarily in telecom markets. Aegis and its subsidiaries had revenues of $26.6 million during the year ended December 31, 2010.

Francis J. Kramer, president and chief executive officer of II-VI Incorporated stated, “Aegis will further strengthen our telecommunication product offerings and will partner with our Photop Technologies, Inc. (Photop) operations to enhance our ability to address our customers’ growing needs for an advanced product portfolio for the increasing deployments of 40G and 100G in flexible and reconfigurable optical networks, including those aimed at delivering fiber to the home (FTTH) services over passive optical networks. Aegis and AOFR will operate as part of our Near-Infrared Optics segment, and will work cooperatively with Photop to further leverage and expand our combined offerings and continue to provide exceptional quality and customer service around the world. We are excited to welcome the employees of Aegis and AOFR to our company.”

II-VI Inc.