Lumentum Holdings Inc Q1 2022 Earnings Call and to Discuss Acquisition of NeoPhotonics Corp Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Samik Chatterjee - JPMorgan Chase & Co, Research Division - Analyst : I guess, Alan, if I, just on the surface, look at this deal compared to the Coherent one, which didn't go through, I mean, on the surface, it looks like the messaging with Coherent or the strategic intent with Coherent was to take your technology to newer end markets. And you are looking at a broad base of end markets that were very different from communication. Related to that, NeoPhotonics and the acquisition here seems to be more concentrating your revenues in the communication vertical. So just, I guess, in terms of the question itself, like has there been a change in the intent of where the strategic direction of the company is with M&A? Are you looking to kind of focus more on the communication vertical versus what was more implied in the Coherent transaction about diversifying into newer end markets? And I have a follow-up, please. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 04, 2021 / 12:30PM, LITE.OQ - Q1 2022 Lumentum Holdings Inc Earnings Call and to Discuss Acquisition of NeoPhotonics Corp

Question: Samik Chatterjee - JPMorgan Chase & Co, Research Division - Analyst : And for my follow-up, if I could just ask. And I don't know if this is more a question for Tim or you. But what was the process in this case? Were there multiple bidders? Was this a bidding process? Or do you -- like were there other -- any other interested parties or like similar to -- just trying to compare the process here to Coherent.