Oclaro Inc of San Jose, CA, USA, which makes lasers and optical components, modules and subsystems for the optical communications, industrial and consumer laser markets, has completed the sale of the assets of its Santa Rosa thin-film filter business to Photop Technologies Inc of FuZhou, China, a subsidiary of II-VI Inc of Saxonburg, PA, USA (which manufactures crystalline compounds including zinc selenide for infrared laser optics, silicon carbide for high-power electronic and microwave applications, and bismuth telluride for thermoelectric coolers). As part of the agreement, Oclaro also sold its interleaver product line to II-VI subsidiary Photop Koncent Inc (FuZhou).
Initial proceeds of $23m were received on 3 December. Total consideration to Oclaro for the transactions will be in the form of cash proceeds of $27m (including the $23m received on 3 December, plus $3m payable on or before 28 December, and $1m to be held in escrow until 31 December 2013).