California manufacturer buys IPG telecom product line
Photo | Grant Welker
IPG Photonics' former headquarters in Oxford.
Product lines created by IPG Photonics have been acquired by a California company in an all-cash transaction.
The Oxford company, which manufactures high-power fiber lasers for industrial and scientific purposes, sold its telecom transmission product lines to Lumentum Holdings Inc. of San Jose, Calif., according to a Monday press release from Lumentum.
Terms of the deal were not disclosed.
Lumentum, which is a publicly traded company, designs and manufactures optical and photonic products.
Beck Mason, senior vice president and general manager of telecom transmission at Lumentum, said IPG’s offerings will complement what Lumentum already has.
"Increasingly, customers in the cable multiple system operators and wireless network operator space are turning to wavelength tunable pluggable transceivers to help expand their network capacity,” Mason said in the press release. “This acquisition brings highly synergistic product lines addressing this rapidly growing opportunity."
After the acquisition announcement, Lumentum’s stock opened Monday morning trading on the Nasdaq at $94 per share after closing at $94.27 on Friday.
WBJ Web Partners
Most Recent
Most Recent
0 Comments