Lumentum closes $16/sh cash buy of NeoPhotonics; sees >$50M annual synergies

Lumentum Holdings Inc.

Each NeoPhotonics share converted into $16.00 cash; deal funded from balance sheet cash.
Lumentum expects more than $50 million in annual run-rate synergies within 24 months of close.
No impact on fiscal Q4 2022 results; transaction update on Aug 16 earnings call.
CEO Alan Lowe cites digital transformation driving cloud and network infrastructure growth.

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