Appleby acted as BVI counsel for Cloud Light Technology Limited (“Cloud Light Technology”) where Lumentum Holdings Inc. (“Lumentum”) acquired Cloud Light Technology at a consideration of USD750 million (subject to certain adjustments) by way of a merger. The merger involved the integration of Lumentum’s wholly-owned BVI subsidiary with Cloud Light Technology Limited’s sole shareholder, CLOUD LIGHT OPTOELECTRONICS LIMITED, which was successfully completed on November 7, 2023.
Chris Cheng, Partner at Appleby’s Hong Kong office, led the legal team for this landmark transaction, with support from Legal Executive Connie Wu. Cloud Light Technology, founded in 2018 and headquartered in Hong Kong, specialises in designing, marketing, and manufacturing advanced optical modules for automotive sensors and data centre interconnect applications.
Lumentum, a Nasdaq-listed company under the symbol “LITE,” is a renowned industry leader in innovative photonics-based solutions. The acquisition aligns with Lumentum’s strategic vision to accelerate the speed, scale, and sustainability of global communication networks and commercial laser-based applications.
With a broad global footprint, strong working relationships with local regulators and deep transactional experience, our M&A team is well-positioned to advise clients on the offshore aspect of a wide range of M&A activities in the Asia-Pacific region.
