Irvine, CA--Newport Corporation (NASDAQ: NEWP) has agreed to acquire ultrafast-laser maker High Q Technologies GmbH (Rankwell, Austria). High Q's products include picosecond and femtosecond oscillators, as well as picosecond and femtosecond oscillator/regenerative-amplifier systems; other products included optical parametric amplifiers (OPOs) and autocorrelators, which characterize ultrafast pulses. This has been a notable week for Newport: just a few days ago it acquired IR optics and instrument specialist Ophir Optronics.
The transaction will probably close before the end of the third quarter; terms were not disclosed. A profitable company, High Q expects 2011 revenues of about $20 million, with three-fourths of its sales to customers in Europe. Family-owned and with about 70 employees worldwide, the company was founded in 1999; its headquarters in Rankweil house manufacturing operations, R&D laboratories, service facilities, and administrative offices. High Q also has a U.S. sales and service office in Watertown, Massachusetts.
“We are pleased to add High Q to our Spectra-Physics Lasers division," said Robert Phillippy, Newport’s president and chief executive officer. "High Q is a leader in femtosecond lasers used for surgical procedures, a fast-growing application in the life and health-sciences market that we do not participate in today. The acquisition will also increase our presence in European laser markets, and will bring us significant additional expertise in picosecond laser technology, which is ideally suited for a number of high-growth applications in the precision industrial manufacturing market.”
Posted by John Wallace
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