Thermo Electron proceeds to take Spectra-Physics private
Thermo Electron (Waltham, MA), which has owned about 80% of Spectra Physics (Mountain View, CA) since 1999, has announced plans to acquire the other 20%. The proposed merger continues a reorganization that began in January of 2000, when Thermo Electron consisted of 24 publicly traded companies. The goal is to become one integrated operating company, said chairman and CEO Richard F. Syron. "Spectra-Physics is our last remaining publicly traded subsidiary. Once the proposed transaction is successfully completed, we intend to integrate its operations fully into our optical technologies sector to take better advantage of synergies between Spectra-Physics and other Thermo business units serving similar markets."
Tunable laser revenues forecasted to surpass $1 billion
Over a dozen laser manufacturers have already introduced tunable diode lasers into the optical networking market and just as many companies are in the wings with products under development, according to a report on 26 tunable laser manufacturers from KMI Corp. and Sirraya Inc. (Providence, RI). The report groups tunable lasers being developed for optical-communications applications into three general categories: monolithic-cavity edge-emitter lasers, external-cavity diode lasers, and vertical-cavity surface-emitting lasers. It identifies the initial applications as inventory management and sparing, and it estimates that the tunable laser market will rapidly surpass $1 billion in annual revenues.
QC Optics agrees to merge with KLA-Tencor
QC Optics Inc. (Wilmington, MA), a manufacturer of laser-based defect detection systems for the semiconductor and computer hard-disk markets, has announced an agreement to be acquired by KLA-Tencor Corp. (San Jose, CA). Under the terms of the agreement, which was unanimously approved by QC Optics' board of directors, KLA-Tencor will pay $1.00 per share, or approximately $3 million, for the outstanding shares of QC Optics (an 88% premium over the company's most recent closing price, as of the announcement last month). Subject to the approval of the stockholders of QC Optics and other customary closing conditions the transaction was expected to close this month.
Veeco inks merger agreement with Applied EPI
Veeco Instruments Inc. (Woodbury, NY) has announced a merger agreement with Applied EPI Inc. (St. Paul, MN), a supplier of molecular-beam epitaxy (MBE) equipment used in the manufacture of high-speed compound semiconductor devices for telecommunications, optoelectronics, and wireless markets. Expected to close last month, the merger was expected to cost about 4 million shares of Veeco common stock and $30 million in cash. "By adding Applied EPI's MBE capabilities, we will be well-positioned to play a leading role in the future integration of III-V compound semiconductor and silicon device development," commented Edward H. Braun, chairman, president, and CEO of Veeco.
Motorola grows gallium arsenide on silicon
Motorola Inc. (Schaumburg, IL) has announced the successful growth of thin layers of III-V semiconductor materials on a silicon substrate. The achievement involved introducing an intermediate layer of material between the silicon and the III-V material with exactly the right "recipe" to bond easily with both silicon and gallium arsenide. Motorola Labs is now working on developing the optimum intermediate layer for indium phosphide and other III-V materials.
Also in the news . . .
Cree Asia-Pacific Inc., a wholly owned subsidiary of Cree Inc. (Durham, NC), has opened a sales office in Kowloon, Hong Kong. . . . Cymer Inc. (San Diego, CA), expects to report third-quarter 2001 revenue on October 23 between 24% and 26% below the $70,411,000 recorded in the second quarter, according to chairman and CEO Bob Akins. . . . Next year's Laser Focus World Marketplace Seminar will be held on January 21, 2002, in San Jose, CA, during Photonics West.
Hassaun A. Jones-Bey