Oclaro completes sales of thin film filter business and interleaver product line

USA: Oclaro Inc., a tier-one provider and innovator of optical communications and laser solutions, 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 Inc., 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.