Mergers and Acquistions News
Categories: Telecoms, Software
July 5th 2011, 17:04PM
Infrared optical component manufacturer II-VI Inc has agreed to takeover Aegis Lightwave in a bid to boost its presence in the telecommunications sector.
The firm has acquired Aegis for around $52 million (£32 million), with the deal potentially rising by an additional $3 million after adjusting for debt and working capital.
Aegis produces devices used in superfast optical networks that provide users with the ability to expand their bandwidth and increase internet traffic.
Francis Kramer, president and chief executive of II-VI, said: "Aegis will further strengthen our telecommunication product offerings and will partner with our Photop Technologies operations to enhance our ability to address our customers' growing needs."
Following the announcement of the deal, II-VI increased its revenue forecast for 2012 to between $595 million and $615 million, up from its prior estimate of between $565 million and $580 million. 
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