March 12, 2018 / 10:15 AM / 8 months ago

Lumentum to buy Oclaro for $1.8 billion

March 12 (Reuters) - Laser and optical fibre supplier Lumentum Holdings Inc said on Monday it would buy optical company Oclaro Inc for $1.8 billion in cash and stock to broaden its portfolio of laser offerings.

The offer price of $9.99 per share, represents a premium of 27.3 percent to Oclaro’s closing price of $7.85.

Technology sector analysts say that Lumentum is the main supplier of a crucial part of Apple’s new FaceID technology, although neither Apple nor Lumentum has said publicly that this is the case. (Reporting by Sonam Rai in Bengaluru; editing by Patrick Graham)

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