SAXONBURG — II-VI Inc., a borough-based technology manufacturer, announced Tuesday its buyout of all outstanding shares of Aegis Lightwave, Inc.

The deal strengthens II-VI’s presence in the telecommunications industry.

The initial consideration has a price tag of $52 million, with the possibility of another $3 million in closing adjustments and other costs.

The deal includes purchase of Aegis’ subsidiary AOFR Pty. Ltd., a developer of fused fiber components, including fiber lasers used in material processing.

II-VI creates and markets products for industry, military and telecommunications applications, focusing on crystalline compounds.

“Aegis will further strengthen our telecommunication product offerings and... enhance our ability to address our customers’ growing needs for an advanced product portfolio,” said II-VI CEO Francis J. Kramer in a statement released Tuesday.

Aegis, headquartered in Woburn, Mass., produces tunable optical devices for high-speed optical networks. The company also operates locations in New Jersey and Australia.

Aegis and its subsidiaries had revenues of $26.5 million during 2010.

Jeffrey D. Farmer, president and CEO of Aegis, stated Tuesday “We believe that by joining with II-VI, we will have access to significantly more resources and markets, especially through its Near-Infrared Optics business segment.”

As a result of the transaction, II-VI is updating its revenue guidance from between $565 million and $580 million to a range of $595 million to $615 million.

Both companies are traded on the Nasdaq exchange, II-VI Inc. as “IIVI” and Aegis as “Aegis.”