Apple Face ID Supplier Acquired for $3.2 Billion

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| News

Finisar, an Apple Face ID supplier that makes laser scanners, has been acquired by optical system producer II-VI, Inc. The purchase is said to be worth US$3.2 billion.

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Face ID Supplier

II-VI announced the acquisition today. It consisted of a cash-and-stock deal at a 37.7% premium on Finisar’s closing price from Thursday. Once the merger is complete Finisar shareholders will own about 31% of the new company. The merger is expected to be finalized mid-2019.

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FInisar supplies components for Face ID, specifically the VCSELs (Vertical-Cavity Surface-Emitting Lasers) used in the TrueDepth camera in the iPhone X, iPhone XS, iPhone XS Max, and iPhone XR. Apple’s Advanced Manufacturing Fund gave Finisar US$390 million toward the end of 2017 to increase its production.

It’s unknown how this will affect Apple’s Face ID production, but Finisar probably isn’t the only supplier.

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