Lumentum sells certain optical component lines to AFR
Lumentum has entered into an agreement with passive optical component supplier, Advanced Fiber Resources (AFR) where the latter will acquire certain assets from the former.
The assets are associated with some of Lumentum’s Lithium Niobate based optical component product lines that are manufactured at the company’s San Donato, Italy site. These are part of the discontinued telecom and datacom product lines.
Beck Mason, senior vice president and general manager, telecom transmission at Lumentum said: ‘This transaction is a good outcome for all stakeholders as Lumentum's telecom transmission product strategy is now focused on Indium Phosphide photonic integrated circuit-based components and modules and we planned to ramp down Lithium Niobate operations in San Donato.’
Added X.L. Wang, AFR's chairman and chief executive officer: ‘With this acquisition, AFR is excited to expand its market opportunities and capabilities to include Lithium Niobate based products for the communications and sensing markets. We believe with our strengths in cost-effective high-volume manufacturing we are well positioned to address customer needs for Lithium Niobate products in our addressable markets.
The transaction is subject to certain customary closing conditions. It is expected to close early in Lumentum's third quarter of 2020. Earlier this year Cambridge Industries Group (CIG) agreed to acquire Lumentum optical transceiver product lines that had been developed and manufactured by subsidiary, Oclaro Japan.