On October 30, 2023, Lumentum Holdings (Lumentum) and Cloud Light Technology Limited (Cloud Light) announced that they have entered into a definitive agreement under which Lumentum will acquire Cloud Light with a transaction value of approximately $750 million, subject to certain adjustments. At the time of closing, transaction consideration will be paid in cash and the assumption and substitution of outstanding unvested Cloud Light options. The transaction has been unanimously approved by the boards of directors of both companies and by Cloud Light’s shareholders. Lumentum intends to finance the transaction through cash from its balance sheet. The transaction is expected to close by the end of calendar 2023, subject to receipt of regulatory approvals and other customary closing conditions.

Wilson Sonsini Goodrich & Rosati is representing Lumentum in the transaction. The Wilson Sonsini team includes:

M&A
Rob Ishii
Rich Mullen
Dennise Martinez
Abby Prithivi
Cindy West
Melis Kilic

Corporate
Lisa Stimmell

Corporate - Greater China
Weiheng Chen
Xuchao Dong
Athena Yu
Chun Teng
Yiwen Feng

Technology Transactions
Barath Chari
Shivang Patel
Sarah Syed

Privacy and Cybersecurity
Matt Staples
Daniel Chen
Michael O’Brien
Diya Jajal

Tax
Myra Sutanto Shen
Anthony Yanez
Han Shen

Employee Benefits and Compensation
Dave Thomas
Gregory Hughes

Employment Litigation
Rebecca Stuart
Nedim Novakovic

Antitrust and Competition
Beau Buffier
Benjamin Labow
Kim Biagioli

Real Estate
James McCann
Martin Sul
Sean Wilkinson
Matthew Parsons

Export Control
Anne Seymour

FCPA and Anti-Corruption
Seth Cowell

For more information, please see Lumentum’s press release. Further coverage can be found at Reuters and Seeking Alpha.