(Yicai Global) March 5 -- Chinese telecom equipment maker Cambridge Industries Group will purchase competitively priced assets from Oclaro Japan, an optical component manufacturer, to develop fifth-generation wireless technologies.

Cambridge Industries has penned a deal with Lumentum Holdings to spend USD41.6 million to buy all the equity of a special-purpose entity that Oclaro will set up, involving mass production of optical transmitters, receivers and other components used in data centers, the Shanghai-based buyer said in a statement today.

Cambridge Industries can use Oclaro's cutting-edge technologies, staff, and products to enrich its product lines while accelerating development, particularly in terms of 5G, it said. Sales of 5G modules this year will make up less than 3 percent of the firm's sales in 2017, it projected.

Lumentum bought Sagamihara-based Oclaro last March for USD1.8 billion.

Editor: Emmi Laine