Summary
II-VI Incorporated (COHR) announced the completion of its acquisition of CoAdna Holdings, Inc. on September 4, 2018. CoAdna is a significant player in the wavelength selective switches market, a critical component in optical networking. This strategic move is expected to enhance II-VI's product portfolio and market position within the rapidly growing optical communications industry. In addition to the acquisition news, the company reaffirmed its previously issued revenue and EPS guidance for the first fiscal quarter ending September 30, 2018. This indicates management's confidence in the current operational performance and near-term outlook despite the integration activities related to the CoAdna acquisition.
Key Highlights
- 1II-VI Incorporated completed the acquisition of CoAdna Holdings, Inc.
- 2CoAdna Holdings, Inc. is a global leader in wavelength selective switches.
- 3The acquisition is expected to strengthen II-VI's position in the optical communications market.
- 4II-VI reaffirmed its revenue guidance for the first fiscal quarter ending September 30, 2018.
- 5II-VI reaffirmed its EPS guidance for the first fiscal quarter ending September 30, 2018.
- 6The filing includes a press release dated September 4, 2018, as an exhibit.
Frequently Asked Questions
The acquisition of CoAdna Holdings, Inc., a leader in wavelength selective switches, is strategic for II-VI as it enhances their product portfolio and strengthens their market position in the critical optical networking and communications sector. This move is likely aimed at capitalizing on the growing demand for advanced optical solutions.
No, the company stated in the press release that its revenue and EPS guidance for the first fiscal quarter ended September 30, 2018, remained unchanged. This suggests that management is confident in their existing financial projections and the integration of CoAdna is not expected to negatively affect short-term performance.
Wavelength selective switches (WSS) are key components in advanced optical networking systems. They allow for the dynamic routing of different wavelengths (colors) of light over fiber optic cables, enabling more efficient and flexible data transmission in telecommunications networks.
The press release detailing the acquisition completion and guidance reaffirmation is attached as Exhibit 99.1 to this 8-K filing.