Oclaro completes sales of its amplifier and micro-optics biz to II-VI
Oclaro has closed the previously announced sale of its Amplifier and Micro-Optics business (the Business) to II-VI Incorporated, on November 1, 2013, for $88.6 million.
Under the terms of the agreement, II-VI paid Oclaro $79.6 million in cash at closing. II-VI previously had paid Oclaro $5 million for a 30-day option to buy the Business on September 12, 2013, which was credited against the $88.6 million purchase price. The remaining $4 million will be held by II-VI until December 31, 2014 to address any post-closing claims.