Credo to acquire DustPhotonics for $750M cash + stock; expects >$500M optical revenue in FY27

Credo Technology Group Holding Ltd

Upfront consideration: $750M cash + ~0.92M CRDO shares; earnout up to ~3.21M shares on financial milestones.
Expected close Q2 2026; deal seen accretive to non-GAAP EPS in Credo's fiscal 2027.
DustPhotonics adds Silicon Photonics PIC for 400G/800G/1.6T/3.2T, reducing component complexity and improving yields.
Combined optical business forecast to exceed $500M revenue in fiscal 2027 on hyperscale AI demand.
Acquisition builds vertically integrated connectivity stack: SerDes, DSP, SiPho, and system integration.

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