The press releases published in this section have been uploaded by law firms. Their content has not been appraised or edited by Law.asia, and no responsibility is taken for the accuracy of the information they contain or any misrepresentation therein. For our independent editorial content, please visit our homepage.
Lumentum's $750M Acquisition of Cloud Light: Fangda's PRC Counsel
Fangda represented Lumentum as its PRC counsel to acquire Cloud Light with a transaction value of approximately $750 mln
Fangda Partners represented Lumentum as its PRC counsel in its acquisition of Cloud Light. Lumentum acquired Cloud Light with a transaction value of approximately $750 million, before certain adjustments. The transaction consideration was paid in cash and the assumption and substitution of outstanding unvested Cloud Light options. The transaction was signed on October 30, 2023 and closed on November 7, 2023. Fangda participated in the legal due diligence of the PRC subsidiary of Cloud Light, reviewing and revising the transaction documents from the PRC law perspective and also assisted with finalizing feasible solutions on the substitution of outstanding unvested Cloud Light options granted to the employees in the PRC subsidiary of Cloud Light. The Fangda team on this deal was led by partner Sufina CAI, and core team members include Cynthia Ye, Joshua Tsui, Grace Fang and Ganxin Zhang. Partner Yan ZHAO and associate Mingyu Yu from tax team provided advice on the PN7 tax reporting matters, Partner Jin WANG and associate Harris Zhang from the anti-trust team provided advice on the matters related to concentration of undertakings, and Partner Yingjie KANG from the compliance team provided advice on the PRC national security review (NSR) filing.
Lumentum (NASDAQ: LITE) is a market-leading designer and manufacturer of innovative optical and photonic products enabling optical networking and laser applications worldwide. Cloud Light Technology Limited designs, markets, and manufactures advanced optical modules for automotive sensors and data center interconnect applications. The acquisition of Cloud Light is expected to accelerate Lumentum’s push into the fastest growing segments of the multibillion-dollar opportunity for optical modules used in cloud computing data center infrastructure.
- Law Firms
- China