Laser micromachining company ESI to acquire Topwin Optoelectronics
Portland, OR - Laser micromachining systems maker Electro Scientific Industries (ESI; NASDAQ: ESIO) has entered into a definitive agreement to acquire Wuhan Topwin Optoelectronics Technology Co., Ltd. (Topwin). The acquisition brings together the deep technology expertise in laser microfabrication from ESI, and one of the fastest growing, innovative laser design and manufacturing systems companies in China.
Topwin manufactures mid-range laser technology products that serve the needs of the consumer electronics industry in ITO patterning, PCB cutting, precision welding, and a variety of marking and cutting applications. The company is located in Wuhan, Hubei Province, China.
"To compete and win in the fast-moving China market, ESI must design, build, and sell locally. The acquisition of Topwin gives us that immediate capability and significantly expands our footprint in China, the largest laser systems market in the world," states Edward C. Grady, CEO of ESI.
The transaction is subject to customary government approvals and is expected to close in the first calendar quarter of 2015.
(Thumbnail image via Shutterstock)
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