Credo Technology Group Holding Ltd (Credo) (NASDAQ: CRDO), an innovator in providing secure, high-speed connectivity solutions that deliver improved reliability and energy efficiency for the next generation of AI-driven applications, cloud computing, and hyperscale networks, today announced it has entered into a definitive agreement to acquire DustPhotonics, a leading developer of Silicon Photonics Photonic Integrated Circuit (SiPho PIC) technology for optical transceivers. 

Credo will acquire DustPhotonics for upfront consideration of $750 million cash and approximately 0.92 million shares of Credo common stock, subject to the terms and conditions of the definitive agreement. In addition, Credo may pay incremental contingent consideration of up to approximately 3.21 million shares based on the achievement of certain financial milestones, subject to the terms of the definitive agreement. Credo expects the transaction will be accretive to non-GAAP earnings per share in Credo's fiscal 2027. The transaction is expected to close in the second quarter of calendar 2026, subject to customary closing conditions and regulatory approvals.