San Jose, CA--Oclaro (NASDAQ: OCLR) is selling the assets of its Santa Rosa thin film filter business to Photop Technologies, a subsidiary of II-VI Incorporated (NASDAQ:IIVI; Saxonburg, PA). Oclaro is also selling its interleaver product line to Photop Koncent (FuZhou, China), another subsidiary of II-VI. The transactions, eventually totaling $27 million in cash, are expected to close December 3, 2012
"Divesting our thin film filter business and the interleaver product line is consistent with our strategy to focus our resources on our core competencies," said Alain Couder, chairman and CEO of Oclaro. "The proceeds from these deals improve our balance sheet and give us additional operating flexibility to serve our global customer base. The agreements also strengthen our existing relationships with II-VI and Photop." The acquisition is expected to help Photop expand it global footprint and diversification into the growing life sciences market.