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19 July 2011
II-VI Incorporated, a manufacturer of optical materials and components, has acquired all of the outstanding shares of Aegis Lightwave, including Aegis’ wholly-owned subsidiary AOFR. The purchase price is $52m cash, subject to customary closing adjustments including a working capital and debt adjustment which could increase the eventual price paid by an additional $3m.
Founded in 2000, Aegis is a privately-held company that makes tunable optical devices required for managing channels in reconfigurable optical networks. Its AOFR subsidiary in Australia manufactures fused-fibre components, including optical couplers used primarily in telecom markets. Aegis and its subsidiaries had revenues of $26.6m during the year ended 31December, 2010.
II-VI wants to get deeper into the optical communications market.  Francis J. Kramer, president and chief executive of II-VI said: “Aegis [and AOFR] will further strengthen our telecommunication product offerings and will partner with our Photop Technologies operations to enhance our ability to address our customers’ growing needs for an advanced product portfolio for the increasing deployments of 40G and 100G in flexible and reconfigurable optical networks, including those aimed at delivering fibre to the home (FTTH) services over passive optical networks.”
Jeffrey D. Farmer, president and chief executive of Aegis commented: “We are delighted to team with II-VI Incorporated. We believe that by joining forces with II-VI we will have access to significantly more resources and markets, especially through its Near-Infrared Optics business segment, further securing our capabilities on research and product development, sales and marketing, and manufacturing operations. We are looking forward to a bright future and great growth prospects for our company and our employees.”
By Pauline Rigby