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The Federal Trade Commission has given technology firms Lumentum Holdings Inc. and Oclaro Inc. the green light to proceed with their $1.8 billion merger.
The transaction was granted early termination of waiting period requirements under the Hart-Scott-Rodino Act, the commission announced April 5. Lumentum is the acquirer.
The companies make optical products that are used in communications and telecommunications networking.
Analysts say the deal could be a precursor to industry consolidation, given that many players have been pursuing the same customers and the sector has a significant amount of redundant research and development expenses.
Oclaro’s revenue has bounced up and down in recent years. It has been trying to get a handle on expenses over the past three years through a restructuring effort.
The transaction also requires approval from antitrust regulators in China, according to the companies.
“Together, we will be an even stronger player in fiber optic components and modules for high-speed communications and a market leader in 3D sensing,” Oclaro CEO Greg Dougherty said in a March 12 statement announcing the deal.
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