27 March 2018
II-VI to acquire CoAdna for $85m
© Semiconductor Today Magazine / Juno PublishiPicture: Disco’s DAL7440 KABRA laser saw.
Engineered materials and optoelectronic component maker II-VI Inc of Saxonburg, PA, USA is to acquire CoAdna Holdings Inc of Sunnyvale, CA, USA for about $85m (which includes the acquisition of CoAdna’s approximately $40m in cash).
Founded in 2000, CoAdna designs and manufactures highly integrated, intelligent optical components, modules and sub-systems, such as LC (liquid crystal) devices, wavelength-selective switches (WSS) and reconfigurable optical add-drop multiplexers (ROADMs) based on its patented LightFlow liquid-crystal platform.
Specifically, CoAdna produces wavelength-selective switches based on LightFlow and II-VI’s micro-optics. Its WSS modules have a long history of field deployments and, over the years, have been integrated alongside II-VI’s optical amplifiers, optical channel monitors and other components on reconfigurable optical add-drop multiplexer (ROADM) line-cards designed by II-VI, CoAdna and their customers.
“CoAdna and II-VI have been great business partners for many years, leveraging each other’s complementary products and technologies to serve the optical transport market,” comments Sunny Sun, president of II-VI Inc’s Photonics Segment. “We are eager to realize our synergies to grow the WSS business over our strong sales channels and shorten the time to market for our new products,” he adds. “With our manufacturing scale, unmatched vertical integration and broad product portfolio, we are well positioned for the growth in ROADM demand driven by metro network upgrades, new data-center interconnect architectures and the emerging 5G wireless infrastructure.”
The companies’ combined portfolio of products for ROADM line-cards will include fixed- and flex-band 1xN WSS, tunable mux/demux, dual-chip pump lasers, passive components, arrayed erbium-doped fiber amplifiers (EDFAs), high-resolution optical channel monitors (OCMs) and optical time-domain reflectometers (OTDRs). II-VI also designs and manufactures fully integrated ROADM line-cards. CoAdna will contribute to the joint product portfolio its OvS platform, which features a distributed cross-connect architecture for data-center networking.
The acquisition is expected to close in third-quarter 2018, subject to the approval of CoAdna’s shareholders, regulatory approvals and customary closing conditions.