SAN JOSE, Calif. – Lumentum Holdings Inc. (NASDAQ: LITE) ("Lumentum"), today announced that it has completed its previously announced acquisition of NeoPhotonics Corporation ("NeoPhotonics").
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.
Read the full press release here.