Coherent buys TuiLaser for $27 million
Coherent announced at Laser 2005 in Munich this week that it had acquired privately held TuiLaser AG (Munich, Germany) for Euro 22.5 million (US$27 million).
SANTA CLARA, CA - Coherent announced at Laser 2005 in Munich this week that it had acquired privately held TuiLaser AG (Munich, Germany) for Euro 22.5 million (US$27 million). TuiLaser is a designer and manufacturer of excimer and solid-state lasers for scientific, OEM medical, and industrial applications. For its fiscal year ending September 2004, TuiLaser recorded sales of Euro 24.0 million (US$29 million).
The acquisition makes sense for Coherent on many levels. It provides Coherent with a strong market presence in all classes of excimer lasers, from low to high power, in all markets with the exception of lithography. TuiLaser is one of the leading suppliers of low-end excimer lasers for medical applications; this is an interesting addition to Coherent’s product mix given that the company essentially exited the medical-laser business (accept as an OEM supplier) several years ago. TuiLaser’s product line also includes infrared and green solid-state lasers that compliment Coherent’s solid-state laser products. TuiLaser has established a leadership position with its solid-state laser products in the growing area of identity card marking.
“We are particularly pleased that TuiLaser has joined Coherent,” said John Ambroseo, president and CEO of Coherent. “We intend to aggressively leverage our worldwide distribution network to expand sales opportunities, and our customers will benefit from our ability to provide the industry’s broadest selection of products and solutions.”
According to Martin Hohla, president of TuiLaser commented, joining forces with Coherent allows TuiLaser to further expand its customer base and provides the scale necessary to grow the business faster than as a stand-alone entity.