Lumentum Holdings Inc. (LITE): M&A transaction — Lumentum completes $750M Cloud Light acquisition; deals expected to be immediately accretive

Lumentum Holdings Inc.

Transaction value ~$750M, paid in cash from balance sheet plus assumption of unvested Cloud Light options.
Expected to be immediately accretive to non-GAAP EPS and more than double cloud data center revenue in 12 months.
Over 90% of Cloud Light's >$200M revenue from 400G+ products; recent quarter >50% from 800G transceivers.
HSR waiting period expired November 2, 2023; deal closed November 7, 2023.
Combination expands Lumentum's served addressable opportunity in data center photonics by more than 5x.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Lumentum Holdings Inc. completed an acquisition involving Cloud Light Technology Limited for approximately $750 million (closed 2023-11-07).

Action: acquisition
Counterparty: Cloud Light Technology Limited
Consideration: approximately $750 million
Closing: 2023-11-07

Exact text from the filing

Intelligence is driving data center compute capacity to its limits.” Under terms of the merger agreement, Lumentum acquired Cloud Light with a transaction value of approximately $750 million, before certain adjustments. The transaction consideration was paid in cash from Lumentum’s balance sheet and the assumption and substitution of outstanding unvested Cloud Light

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Lumentum Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-272452

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