China: Lumentum receives approval for Oclaro deal

Lumentum Holdings, seen by analysts as a parts supplier for Apple’s Face ID technology, announced on Thursday, December 6, it received antitrust clearance from China for its US$1.7 billion acquisition of Oclaro.

The news comes against the backdrop of the arrest of a top executive of Chinese tech giant Huawei for extradition to the United States that sparked fears of a flare-up in Sino-US tensions, according to Reuters.

Announcing the cash-and-stock deal for Oclaro earlier in March, US-based Lumentum stated the purchase was aimed at broadening its portfolio of laser offerings and getting an edge in a fast-developing market for 3D sensing technology.

Full Content: Reuters

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