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Oclaro, based on its recent Special Meeting of Stockholders, has approved its acquisition agreement with Lumentum Holdings.

Under the agreement, Lumentum will acquire all of Oclaro’s business. Approximately 96.2% of voting Oclaro stockholders cast their votes in favor of the proposal to approve the merger agreement, representing approximately 65.6% of Oclaro's outstanding common stock as of the record date for the Special Meeting of Stockholders.

According to Greg Dougherty, Oclaro CEO, together, the companies will be an even stronger player in fiber optic components and modules for high-speed communications and a market leader in 3D sensing. They are excited and optimistic about the opportunities this creates for all of their stakeholders, including stockholders, employees, customers and partners.

The parties continue to expect the transaction to close in the second half of 2018, subject to receipt of regulatory approval in China and satisfaction of customary closing conditions.