Laser and optical fiber specialist Lumentum Holdings Inc said on Tuesday it would acquire laser manufacturer Coherent Inc in a $5.7 billion deal.
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Lumentum’s cash-and-stock deal for Coherent represents a 49% premium to the company’s closing price on Jan. 15.
Coherent stockholders will receive $100 per share in cash and 1.1851 shares of Lumentum common stock for each share held and are expected to own about 27% of the combined company.
Lumentum is known for its 3D sensing face recognition technology, which many analysts say powers Apple Inc’s Face ID, Animoji and portrait mode features.
MacDailyNews Note: The deal is expected to be finalized in the second half of this year.
