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Date Announced: 04 Dec 2012
Initial Cash Proceeds of $23 Million Received December 3, 2012.
SAN JOSE, Calif., Dec. 4, 2012 /PRNewswire/ -- Oclaro, Inc. (NASDAQ: OCLR), a tier-one provider and innovator of optical communications and laser solutions, today announced that it has completed the sale of the assets of its Santa Rosa thin film filter business to Photop Technologies, Inc., a wholly-owned subsidiary of II-VI Incorporated (NASDAQ: IIVI), a global leader in engineered materials and opto-electronic components. As part of the agreement, Oclaro also sold its interleaver product line to Photop Koncent, Inc. (FuZhou), a wholly owned subsidiary of II-VI. The transactions were completed on December 3, 2012.
Initial proceeds of $23 million were received on December 3, 2012. Total consideration to Oclaro for these transactions will be in the form of cash proceeds of $27 million, including the $23 million received on December 3, 2012, plus $3 million payable on or before December 28, 2012, and $1 million to be held in escrow until December 31, 2013.
Source: Oclaro
E-mail: via web site
Web Site: www.oclaro.com
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