II-VI acquires Calif. company
A deal announced in early 2021 has finally been closed.
II-VI officials announced on Tuesday that the company has successfully acquired Coherent of Santa Clara, Ca.
II-VI is a producer of engineered materials and optoelectronic components based in Clinton Township.
A news release said the acquisition will mean a rebranding of the uniquely named company, which will soon be called Coherent.
Vincent D. Mattera Jr., chairman and CEO of II-VI, said while the name Coherent has a strong association with laser production in the market, it also means “bringing things together.”
“It represents our diversity in thinking distilled into our clarity of purpose, our unity in action and our broader sense of engagement by connection to our mission, vision and values,” Mattera said.
While the latest news release did not list a price for the acquisition, a release from February 2021 cited a bid of $6.5 million.
The combined company has a global workforce of 28,000 people in 130 locations worldwide.