Lumentum

Lumentum designs and manufactures optical and photonic products that enable optical networking and laser applications. Optical components and subsystems from Lumentum are used in telecom, enterprise, and data center networks. The company's lasers, including kilowatt-class fiber lasers and ultrafast solid-state lasers, are used in precision manufacturing for products such as automobiles, solar cells, displays, and semiconductor chips. Lumentum also provides diode lasers for high-volume 3D sensing applications used in mobile devices as well as autonomous driving, in-cabin driver monitoring, advanced imaging, and other applications.

Lumentum was originally the communications and commercial optical product business unit of JDS Uniphase Corporation (now called Viavi Solutions), spinning off and becoming an independent publicly traded company on August 1, 2015. Since August 4, 2015, Lumentum common shares have been traded on the Nasdaq stock exchange under the trading symbol LITE. The company is headquartered in San Jose, California, with R&D, manufacturing, and sales offices around the world.

On March 12, 2018, Lumentum announced the acquisition of Oclaro for $1.8 billion in cash and stock. Oclaro was a provider of optical components and modules for the long-haul, metro, and data center markets.

On November 16, 2020, Lumentum announced it had acquired certain technology assets of TriLumina. TriLumina's technology included flip-chip, back-emitting VCSEL arrays for use in a wide range of applications, such as 3D sensing, automotive safety and driver assistance systems, and LiDAR. The acquisition included its patents and other intellectual property. Terms of the transaction were not disclosed.

In January 2021, it was announced that Lumentum would acquire Coherent (provider of materials, lasers, and networks for industrial, communications, electronics, and instrumentation markets) in a $5.7 billion cash and stock transaction. In March 2021, Lumentum received a notice of termination of the previously announced amended definitive merger agreement. As part of the terms of the agreement, Coherent paid a $217.6 million termination fee to Lumentum.

On August 3, 2022, Lumentum completed the acquisition of NeoPhotonics, a developer and manufacturer of lasers and optoelectronic solutions that transmit, receive, and switch high-speed digital optical signals for Cloud and hyper-scale data center internet content providers and telecom networks. Under the terms of the merger agreement, NeoPhotonics stockholders received $16.00 in cash for each share of NeoPhotonics common stock, representing a total equity value of approximately $918 million. Shortly after, on August 15, 2022, Lumentum acquired IPG Photonics' telecom transmission product lines in an all-cash transaction.

On November 7, 2023, Lumentum completed the acquisition of Cloud Light Technology Limited, a designer and manufacturer of modules for automotive sensors and data center interconnect applications founded in 2018. Under the terms of the merger agreement, Lumentum acquired Cloud Light with a transaction value of approximately $750 million, before adjustments. The transaction consideration was paid in cash from Lumentum’s balance sheet.

Prior to the 2024 fiscal year, Lumentum divided its products into two reportable segments—Optical Communications (“OpComms”) and Commercial Lasers (“Lasers”). The company now classifies its products as cloud & networking and industrial tech.

Lumentum offers a range of optical components and modules for communications networks (telecom, enterprise, and data center). Cloud & networking products offered by Lumentum include:

• Dense wavelength-division multiplexing (DWDM) and coherent optical transceivers
• DWDM transmission components
• Reconfigurable optical add-drop multiplexers (ROADMs) and wavelength management
• Software-defined networking (SDN) elements
• Optical amplifiers
• Passive components and modules
• Pump lasers
• Source lasers, integrated circuits (ICs), and photodiodes
• Submarine components

Lumentum's industrial tech products are divided into laser and laser diode segments. Lumentum offers a range of laser products, including kW-class fiber lasers, ultrafast solid-state lasers, UV Q-switched diode-pumped lasers, and low-power continuous wave lasers. The company works with clients to identify the right laser for their requirements. Lumentum offers diode laser products for 3D sensing and other applications.