Seattle, WA--Light and color measurement company Radiant Imaging, Inc. and Bellevue, WA-based optical software maker Zemax Development Corporation have merged to form Radiant ZEMAX, LLC. The union is backed by capital from Evergreen Pacific Partners, who says the merger will enable both companies to better serve and grow existing markets for their products, as well as create new products to meet growing global demand in the photonics and optics industries.
As part of the deal, Paul Caraghert will become CEO of Radiant ZEMAX, LLC. He recently served as president of Fluke Networks and Tektronix Service Solutions, both owned by Danaher Corporation. Caragher's prior experience includes Hach-Lange, a manufacturer of water testing instruments and systems, and international experience working for General Motors Corporation's Latin America, Africa, and Middle East Operations.
In the short term, the combined companies will be located in a single facility in Redmond, WA and operate under their respective brands, while expanding customer outreach and technical support functions and beginning to integrate their technologies. Founders of both companies are remaining in executive leadership and product development roles with a goal of dramatic company expansion in the next three to five years through organic growth as well as strategic acquisitions.
"We will be able to grow faster and go farther together," said Ron Rykowski, founder and CEO of Radiant. "With access to capital from Evergreen and economies of scale, we can develop integrated solutions that deliver increased value to customers and generate new revenue opportunities for the company."
The lighting market is undergoing a significant shift to more energy efficient LED lights, and devices such as tablets and smartphones are expected to proliferate in 2011 and beyond. By combining their expertise and resources, Radiant and Zemax will offer a powerful, end-to-end solution for developers designing, testing and producing the next generation of display devices and LED lighting.
"The long term potential in this industry is immense, but serving it will require a truly global company," said Ken Moore, founder and CEO of Zemax. "This merger will allow us to transform into a global optics design, test and measurement leader with the infrastructure and capacity to serve our customers where they are-- which is increasingly in Asia."
"This is a great opportunity to combine two companies that are individual leaders in their existing fields, but together can capitalize on the exploding demand for LED-based devices," said T.J. McGill, co-founder and managing partner at Evergreen.
Source: www.zemax.com
Posted by:Steve Anderson
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