II-VI Buying VC-Backed Photop for $77.6 Million
II-VI Inc. (Nasdaq: IIVI) has agreed to acquire Photop Technologies Inc., a Fuzhou, China-based manufacturer of photonics products. The deal is valued at approximately $77.6 million, including $45.6 million in cash and 1.15 million shares of II-VI common stock. It also includes unspecified earnouts. Photop had raised $10 million in 2007 from VC firm Walden International.
29 December 2009•4 mins read
