II-VI Buys Finisar In Merger Of Two Apple 3D Sensor Suppliers
Summary
II-VI ( IIVI ) has agreed to buy Finisar ( FNSR ) for $3.2 billion in a cash-and-stock deal that combines two suppliers of 3D sensors to Apple ( AAPL ).Needham analyst Alex Henderson says that II-VIs purchase of Finisar could have upside for Lumentum Holding ( LITE ).The Needham analyst told IBD in an email that Apple may be cool to the merger if it reduces price competition."Assuming the deal completes, we expect the merger of II-VI and Finisar to create a stronger competitor to Lumentum for the 3-D sensing market than either company on its own," D.A."Disruptive megatrends driven by innovative uses of lasers and other engineered materials present huge growth opportunities for both of our companies,"II-VI Chief Executive Vincent Mattera said in a prepared statement.
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