2 February 2016

II-VI Inc completes acquisition of EpiWorks

Engineered materials and optoelectronic component maker II-VI Inc of Saxonburg, PA, USA has completed its acquisition of EpiWorks Inc of Champaign-Urbana, IL, USA (which manufactures epitaxial wafers for optical components, wireless devices and high-speed communication applications). 

EpiWorks' revenues in 2015 were about $14m. Its 25,000ft2, Class 1000 cleanroom epi foundry should provide significant expansion of II-VI's product portfolio. EpiWorks' expertise is reckoned to dovetail with II-VI's core competencies as an engineered materials company.

The acquisition is valued at $43m in cash paid at closing plus a $6m earn out payable over three years (if various performance targets are achieved). II-VI financed the acquisition from available cash and borrowings under its credit facility.

The firm will update its guidance for the fiscal third-quarter 2016 (ending 31 March) when it closes on its pending acquisition of Anadigics Inc of Warren, NJ, USA.

See related items:

II-VI Inc acquiring EpiWorks and Anadigics for combined $110m

EpiWorks to manufacture epiwafers for POET's monolithic optoelectronics process platform

Tags: II-VI Inc EpiWorks Epitaxial wafers

Visit: www.ii-vi-photonics.com

Visit: www.epiworks.com