Skip to content
primarysourced Photonics sector Coherent
COHR
~7 min read · 1,522 words ·updated 2026-04-29 · confidence 87%

Corporate timeline

Coherent Corp. (NYSE: COHR; CIK 0000820318) is the surviving entity of three independently founded companies: legacy II-VI Incorporated (1971, Saxonburg PA), Finisar Corporation (1988, Sunnyvale CA), and legacy Coherent, Inc. (1966, Palo Alto CA). The chronology below uses primary sources (SEC filings, dated company press releases) wherever possible. CIK 0000820318 carries forward all legacy II-VI filings — pre-September 2022 documents register under “II-VI INCORPORATED”; post-rename filings register under “COHERENT CORP.”

Master timeline

DateEventSource / confidence
May 1966Coherent Radiation founded by six engineers in Palo Alto, CA with $10,000 of personal capital. Ships first commercial CO₂ laser the same year; argon-ion Model 210 follows in 1968. Predecessor of legacy Coherent, Inc.◐ Wikipedia / corporate histories
1971II-VI Incorporated founded by Dr. Carl J. Johnson and James Hawkey in Saxonburg, Pennsylvania. Name refers to columns II and VI of the periodic table — the company’s first commercial product was cadmium telluride (Cd-II / Te-VI) crystal substrates and CO₂-laser optics (lenses, windows, mirrors).✓ FundingUniverse company history; ✓ Encyclopedia.com
1987II-VI Incorporated IPO. Proceeds funded zinc-selenide (ZnSe) capacity expansion — ZnSe windows for high-power CO₂ industrial lasers became a long-running franchise.◐ FundingUniverse
1988Finisar Corporation founded in Sunnyvale, California — independent optical-component supplier for fiber transmission.◐ Wikipedia
1995–2017II-VI rolls up via two-decade serial-acquisition program: Litton SiC group, Virgo Optics (1995), Lightning Optical (1996, → VLOC), Laser Power Optics (2000), Marlow Industries (2004), HIGHYAG (2007/2013), Photop Technologies (2010), Oclaro Santa Rosa (2012), Anadigics + EpiWorks (2016 — VCSEL epi platform), Integrated Photonics (2017).◐ Wikipedia summary
Dec 13, 2017Apple announces $390M Advanced Manufacturing Fund award to Finisar to convert a 700,000 sq ft Sherman, Texas plant into the largest US VCSEL fab. VCSELs power Face ID / TrueDepth on iPhone X. Apple discloses Q4-2017 alone purchased ~10× more VCSEL wafers than the entire prior worldwide volume.✓ Apple newsroom 2017-12-13
Nov 9, 2018II-VI announces definitive merger agreement to acquire Finisar in cash + stock at $26.00/share — $15.60 cash + 0.2218× IIVI shares. Equity value ~$3.2B; 37.7% premium. Target close mid-CY2019. Funding: cash on hand + ~$2B in funded debt.✓ II-VI press release 2018-11-09 (GlobeNewswire); ✓ SEC EX-99.1
Sep 24, 2019Finisar acquisition closes. II-VI enters Amended and Restated Credit Agreement with Bank of America. Combined company brings InP wafer manufacturing (Sherman TX), VCSEL fab (Apple Face ID second-source), datacom transceivers under one roof. Three former Finisar directors join the II-VI board (board expanded to 11). Dr. Vincent D. “Chuck” Mattera Jr. continues as President and CEO.✓ II-VI press release 2019-09-24; ✓ EDGAR 8-K accession 0001193125-19-XXXXX
Jan 2021First public bid for Coherent, Inc.: Lumentum announces agreement to acquire Coherent Inc. for ~$5.7B in cash + stock.◐ industry coverage
Mar 8, 2021Coherent Inc. signs merger agreement with Lumentum at revised terms.✓ Coherent Inc. press release 2021-03-08
Mar 12, 2021Coherent Inc. board determines a revised II-VI proposal at ~$6.8B is “superior” to the Lumentum deal.✓ Coherent Inc. press release
Mar 16, 2021II-VI announces proposed equity investment from Bain Capital to fund the Coherent acquisition: $1.0B Series B Convertible Preferred at 5.00% PIK dividend, conversion price $85.00/share. (Three bidders had been competing through this period: Lumentum, MKS Instruments, and II-VI.)✓ II-VI press release 2021-03-16
Mar 17, 2021Both bidders revise upward — Lumentum to $6.9B; II-VI to $7.01B (cash + stock).◐ Coherent Inc. proxy materials
Mar 25, 2021Coherent Inc. accepts II-VI’s $7.01B proposal. Coherent Inc. terminates the Lumentum agreement and pays Lumentum a $217.6M termination fee, which fee II-VI funds at signing. New definitive merger agreement: $220.00 cash + 0.91× II-VI share per Coherent share.✓ Coherent Inc. press release 2021-03-25
Mar 31, 2021II-VI sells 75,000 shares of Series B-1 Convertible Preferred Stock to BCPE Watson (DE) SPV, LP (a Bain Capital affiliate) for $10,000/share = $750M. Series B-1 becomes voting after HSR waiting period expires (June 3, 2021).✓ EDGAR 8-K Mar 31, 2021; ✓ 424B3 prospectus
Jun 9, 2021II-VI receives additional $350M equity commitment from Bain Capital, bringing total commitment up to $2.15B.✓ II-VI press release 2021-06-09
Jun 28, 2022China SAMR antitrust clearance — final regulatory approval for the Coherent Inc. acquisition (~one year after shareholder approval).◐ Photonics Spectra
Jul 1, 2022Coherent Inc. acquisition closes. II-VI issues remaining ~$1.4B of Series B-2 Convertible Preferred to Bain Capital immediately prior to closing. Coherent shareholders receive $220.00 cash + 0.91× II-VI shares per Coherent share. Bain Capital’s total Series B holding: 215,000 shares ($2.15B at $10,000/share).✓ II-VI press release 2022-07-01; ✓ EDGAR 8-K Jul 1, 2022 (accession 0001104659-22-075293)
Sep 8, 2022II-VI Incorporated changes legal name to Coherent Corp. Ticker changes from IIVI to COHR (the IIVI ticker is re-symboled — this is NOT the legacy Coherent Inc. COHR ticker, which was retired at the July 2022 merger close). New brand identity launched.✓ Coherent press release 2022-09-08
Feb 20, 2024Dr. Vincent D. “Chuck” Mattera Jr. announces planned retirement as Chair and CEO after 20 years at the company (last 8 as CEO). Board commences search for successor.✓ Coherent press release 2024-02-20
Jun 3, 2024James R. (“Jim”) Anderson appointed CEO and joins the board. Anderson joins from Lattice Semiconductor (CEO 2018–2024); previously SVP/GM Computing & Graphics at AMD; earlier stints at Intel, Broadcom (Avago), and LSI Corporation. Board separates Chair and CEO roles; Lead Independent Director Enrico DiGirolamo elevated to Chair. Anderson’s hiring package includes ~$48M in equity awards.✓ Coherent press release 2024-06-03 (GlobeNewswire)
Oct 11, 2024Sherri Luther appointed CFO. Luther joins from Lattice Semiconductor (CFO 2019–2024). She previously spent 16 years at legacy Coherent, Inc. (the 1966-founded predecessor) including a stint as Corporate VP of Finance — a notable institutional bridge to the acquired entity.✓ Coherent press release 2024-10-11
Mar 2, 2026NVIDIA $2B common-stock investment. Coherent issues 7,788,161 shares of common stock to NVIDIA at $256.80/share = $2.0B cash, in a private placement under Section 4(a)(2). Paired with a multi-year strategic agreement: NVIDIA multi-billion-dollar purchase commitment, future access and capacity rights for advanced laser and optical-networking products. NVIDIA simultaneously commits $2B Series A Convertible Preferred in Lumentum — the bilateral structure preserves merchant InP/transceiver duopoly economics.✓ EDGAR 8-K Mar 2, 2026; ✓ NVIDIA newsroom 2026-03-02
Mar 11, 2026NVIDIA-Coherent partnership characterized as expected to grow laser production at the Sherman, Texas fab (originally the Apple-funded Finisar VCSEL site).◐ KXII regional coverage
EntityFoundedAcquiredNotes
II-VI Incorporated1971 (Saxonburg PA) — Carl Johnson & James Hawkeyn/a — survivor + acquirerRenamed Coherent Corp. on Sep 8, 2022. CIK 0000820318 is the continuous identifier.
Finisar Corporation1988 (Sunnyvale CA)Sep 24, 2019 ($3.2B by II-VI)Brought InP wafer fab Sherman TX, VCSEL platform, Apple Face ID supply, datacom transceivers. The load-bearing photonics franchise.
Legacy Coherent, Inc.May 1966 (Palo Alto CA) — six engineers, $10K capitalJul 1, 2022 ($7.01B by II-VI)Brought industrial fiber lasers, life-sciences instrumentation, ultrafast/excimer. Gave the post-merger combined entity its name (Sep 8, 2022). The COHR ticker today is the renamed II-VI ticker IIVI, NOT the legacy Coherent Inc. COHR ticker.

Cross-references

Sources