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LUMENTUM NEWS RELEASE Lumentum And Coherent To Combine , Uniting Global Industry Leaders To Accelerate The Future Of Photonics 2021-01-19 · Lumentum to acquire Coherent in a $ 5.7 billion cash and stock transaction -- Brings together highly complementary , best - in - class portfolios and teams to accelerate photonic innovation , and significantly expands Lumentum's penetration of the more than $ 10 billion market for lasers and photonics outside of communications and 3D sensing -- - Expected to deliver more than $ 150 million in annual run - rate synergies within 24 months of transaction close , and be accretive to non - GAAP earnings per share during the first full year after closing -- -- Lumentum and Coherent announce strong preliminary financial results The companies to host conference call today at 5:30 A.M. PT / 8:30 A.M. ET SAN JOSE , Calif . , and SANTA CLARA , Calif . , Jan. 19 , 2021 / PRNewswire / -- Lumentum Holdings Inc. ( " Lumentum " ) and Coherent , Inc. ( " Coherent " ) today announced that they have entered into a definitive agreement under which Lumentum will acquire Coherent in a cash and stock transaction valued at $ 5.7 billion . Under the terms of the agreement , which has been unanimously approved by the Boards of Directors of both companies , Coherent stockholders will receive $ 100.00 per share in cash and 1.1851 shares of Lumentum common stock for each Coherent share they own . At closing , Coherent stockholders are expected to own approximately 27 % percent of the combined company . The combination unites Coherent's leading photonics and lasers businesses , including in the Microelectronics , Precision Manufacturing , Instrumentation , and Aerospace & Defense markets , with Lumentum's leading Telecom , Datacom , and 3D Sensing photonics businesses , creating a diversified photonics technology company with significantly increased scale and market reach . The combination accelerates Lumentum's penetration of the more than $ 10 billion market for lasers and photonics outside of the communications and 3D sensing applications . The powerful R & D engine of the combined company will be primed to accelerate innovation in existing and future markets that need the unique capabilities that photonics bring . The combined company will be better positioned to serve the needs of a global customer base increasingly dependent on photonics to enable important end- market transitions including the shift to digital and virtual approaches to work and life , the transition to 5G in wireless networking , advanced bioinstrumentation , advanced microelectronics , and new materials for next generation consumer electronic devices , flat panel and OLED displays , communications equipment , electric and autonomous vehicles , and energy storage . 1