On March 12, 2018, Lumentum Holdings, a leading provider of photonics products for optical networking and lasers for industrial and consumer markets, announced that it has entered into a definitive agreement to purchase Oclaro, a leader in optical components and modules for the long-haul, metro, and data center markets, for $1.8 billion in cash and stock. Lumentum is a leading provider of photonic solutions for optical networking and lasers for the industrial and consumer markets. This acquisition adds Oclaro's strong portfolio of high-speed coherent and datacom solutions for optical communications.

For each share of Oclaro stock held, Oclaro stockholders will be entitled to receive $5.60 in cash and 0.0636 of a share of Lumentum common stock, subject to the terms of the definitive agreement. The transaction values Oclaro at $9.99 per share or approximately $1.8 billion in equity value, based on the closing price of Lumentum's stock on March 9, 2018, of $68.98.

The transaction is expected to generate more than $60 million of annual run-rate synergies within 12 to 24 months of the closing and be immediately accretive to non-GAAP earnings per share.

The Wilson Sonsini team advising Lumentum in the transaction includes:

Corporate/M&A:
Robert Ishii
John Mao
Lisa Stimmell
Gordon Grafft
Dana Hall
Michael Rosati

Technology Transactions:
Manja Sachet
John McGaraghan

Antitrust:
Brendan Coffman

Employee Benefits & Compensation:
David Thomas

Employment Litigation:
JeAnne Reyes
Briza Sanchez

Regulatory and Compliance:
Anne Seymour

Real Estate:
James McCann
Martin Sul