How to shepherd a company’s technologies for growth

CTO interviews part 3: Dr Julie Eng

• Eng is four months into her new role as CTO of Coherent.
• Previously, she headed Finisar’s transceiver business and then the 3D sensing business, first at Finisar and then at II-VI. II-VI changed its name to Coherent in September 2022
• “CTO is one of these roles that has no universal definition,” says Eng

Dr Julie Eng

Julie Eng loved her previous role.

She had been heading II-VI’s (now Coherent’s) 3D sensing unit after being VP of engineering at Finisar’s transceiver business. II-VI bought Finisar in 2019.

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Interview: Finisar’s CEO reflects on a notable year

Michael Hurlston has had an eventful 2018. 

The year started with him replacing Finisar’s veteran CEO, Jerry Rawls, and it is now ending with Finisar being acquired by the firm II-VI for $3.2 billion.

Michael Hurlston

Finisar is Hurlston’s first experience in the optical component industry, having spent his career in semiconductors. One year in and he already has strong views about the industry and its direction.

“We have seen in the semiconductor industry a period of massive consolidation in the last three to four years,” says Hurlston, in his first interview sinced the deal was announced. “I think it is not that different in optics: scales matters.”    

Hurlston says that, right from the start, he recognised the need to drive industry consolidation. “We had started thinking about that fairly deeply at the time the Lumentum-Oclaro acquisition was announced and that gave us more impetus to look at this,” says Hurlston. The result was revealed in November with the announced acquisition of Finisar by II-VI.

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Lumentum jolts the industry with Oclaro acquisition

Lumentum announced on Monday its plan to acquire Oclaro in a deal worth $1.8 billion.

The prospect of consolidation among optical component players has long been mooted yet the announcement provided the first big news jolt at the OFC show, being held in San Diego this week. 

Alan Lowe“Combined, we will be an industry leader in telecom transmission and transport as well as 3D sensing,” said Alan Lowe, president and CEO of Lumentum, on an analyst call discussing the deal.

Lumentum says their joint revenues totalled $1.7 billion with a 39% gross margin over the last year. And $60 million in synergies are forecast in the second year after the deal closes, which is expected to happen later this year. 

The $1.8 billion acquisition will comprise 56 percent cash and 44 percent Lumentum stock. Lumentum will also raise $550 million to help finance the deal.

“This is a big deal as it consolidates the telecom part of the component market,” says Daryl Inniss, business development manager at OFS Fitel and former market research analyst.

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