Finisar, a key supplier for Apple’s Face ID system, is to be acquired by optical systems company II-VI, Inc.
Apple last year reached a $390M deal with Finisar to safeguard its supply of key components for the Face ID system now used in the iPhone XS, iPhone XR and 2018 iPad Pro models …
The Financial Times reported the deal.
Optical products company II-VI Incorporated announced on Friday it planned to acquire Finisar, a maker of specialised laser scanners that drew $390m in investment from technology group Apple last year.
II-VI, which makes optoelectronic components and optical systems, said it would acquire Finisar in a cash-and-stock deal with an equity value of $3.2bn, a 37.7 per cent premium to its closing price on Thursday. Finisar shareholders will own around 31 per cent of the combined company.
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