 | |
| Formerly | II-VI Incorporated (1971-2022) |
|---|---|
| Company type | Public |
| Industry |
|
| Founded | 1971; 54 years ago (1971) |
| Founders |
|
| Headquarters | Saxonburg, Pennsylvania, U.S. |
Number of locations | 130[1] (2022) |
Key people | Jim Anderson (CEO) |
| Revenue |  US$5.81billion (2025[2]) |
| US$290 million (2025) | |
 −US$156 million (2024) | |
| Total assets | US$14.5 billion (2024) |
| Total equity | US$5.21 billion (2024) |
Number of employees | 26,157 (2024) |
| Website | coherent |
| Footnotes / references Financials as of June 30, 2024[update].[3] | |
Coherent Corp. (formerlyII-VI Incorporated) is an American manufacturer of optical materials andsemiconductors. As of 2023, the company had 26,622 employees. Their stock is listed at theNew York Stock Exchange under the ticker symbol COHR. In 2022, II-VI acquired laser manufacturerCoherent, Inc., and adopted its name.[4][5]
Coherent was founded as II-VI Incorporated in 1971 by Carl Johnson and James Hawkey.[6][7] The name "II-VI" is a reference to the groups II and VI in theperiodic table, since the company started its business by producingcadmium telluride (cadmium belongs togroup II andtellurium belongs togroup VI).[8] The company's first products included lenses, windows, and mirrors forCO2 lasers.[6]
The company held itsinitial public offering in 1987.[6] According to Carl Johnson, the funds raised by the IPO allowed II-VI to expand itszinc selenide manufacturing capacity.[6]
In the 1990s, the company began to grow both on its own and through acquisitions.[6] It purchased Litton Systems' silicon carbide group from Northrop Grumman in the 1990s,[6] Virgo Optics in 1995,[9] and Lightning Optical Corporation in 1996,[9] among others. The combination of Virgo and Lightning created II-VI's VLOC division for developing one-micron solid-state lasers.[9] Acquisitions in the 2000s have included Laser Power Optics in 2000; Marlow Industries in 2004;[10] HIGHYAG (75% in 2007[11] and the remaining 25% in 2013); Photop Technologies in 2010;[12] Oclaro's Santa Rosa, California, optics coating facility in 2012; Anadigics and EpiWorks in 2016;[13] and Integrated Photonics in 2017.[14][9] The acquisition of Avalon Photonics, Anadigics, and EpiWorks allowed II-VI to increase its production ofvertical-cavity surface-emitting lasers (VCSELs),[9] important to 3D sensing technology; and the acquisition ofFinisar Corporation in 2019 brought to II-VI Finisar's high volume 3DS VCSELsindium phosphide (InP) platform and its experience in integrating InP lasers with optics and electronics in transceivers.[9] Acquisitions of INNOViON, Ascatron, and some of GE's patents have expanded its business in silicon carbide substrates.[9] In 2022, II-VI acquired laser manufacturerCoherent, Inc..[15] and took the name Coherent Corp.
Carl Johnson served as II-VI's first CEO from 1985 to 2007. He stepped down as CEO in 2007 and was named chairman of the board, a position he held until 2014.[16] Johnson was succeeded as CEO by Francis Kramer, who had been president since 1985.[14] Kramer followed Johnson as chair in 2014, in addition to his duties as CEO, and continued as chair in 2016 when Vincent D. (Chuck) Mattera, Jr., became the company's third CEO.[9] In November 2021, Kramer transitioned from chair to Chair Emeritus, and Mattera was named chair and CEO.[17] In February 2024, Coherent announced that Mattera would retire, remaining in place until a successor is named.[18] Jim Anderson was named CEO in early June 2024. He was formerly with Lattice Semiconductor Corporation (LSCC)
In May 2025,Barron's reported "the highest-paid CEO of 2024 wasn’tJensen Huang, orTim Cook, or evenElon Musk. Instead, it was James Anderson, the newly appointed CEO of Coherent."[19]
Coherent Corp. is headquartered inSaxonburg, Pennsylvania,[20] located north ofPittsburgh inButler County. The company has R&D, manufacturing, sales, service, and distribution facilities in 130 locations worldwide.[21]
The Saxonburg headquarters site was once the property ofKDKA, the world's first commercially licensed radio station, and some of the original structures are still there.[22] In the 1940s, the site was expanded by theCarnegie Institute of Technology and theU.S. Nuclear Regulatory Commission to become a 400 MeVsynchrocyclotron research facility.[23] II-VI acquired the property around 1978 and has further expanded the facility over the years.[23]
