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II-VI Incorporated Acquires Integrated Photonics For $45m

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  • Acquisition is valued at approximately $45.0M in cash due at closing with a $2.5M earn out.
  • Business to be a division of II-VI Photonics segment
  • The Company's guidance for the quarter is unchanged

II"VI Incorporated engineered materials and optoelectronic components has announced the acquisition of Integrated Photonics headquartered in Hillsborough, NJ, in a cash transaction valued at approximately $45.0 million at closing and with a $2.5 million earn out.

Integrated Photonics was founded in 2000 as a spin-out of the magneto-optic materials group of AT&T Bell Labs. Integrated Photonics provides engineered magneto-optic materials that enable high-performance directional components such as optical isolators for the optical communications market.

Optical isolators based on magneto-optic materials are embedded in transceivers with edge emitting lasers and in optical amplifiers. They are widely deployed in datacentres and the global optical network infrastructure at a pace that is accelerated by the rapidly growing bandwidth demand for enterprise and consumer applications, including cloud computing and emerging 5G wireless services.

"The magneto-optic materials engineered at Integrated Photonics are second to none as evidenced by their leading market position and their scalable production lines now running at full capacity," said Dr. Chuck Mattera, President and CEO, II-VI Incorporated. "We are excited about the opportunity to scale the business to satisfy a strong and growing demand that currently exceeds the global supply."

The acquisition is a strategic fit for the II-VI Photonics segment. The magneto-optic materials extend II-VI's broad portfolio of engineered materials and vertically integrated solutions to further penetrate the fibre laser market and to address emerging magnetic sensing applications.



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