Optometrics buys optics product line from Precision Optics
February 7, 2008, West Berlin, NJ--Optometrics Corporation (Ayer, MA) has acquired an optical filter product line from Precision Optics Corporation, Inc.
February 7, 2008, West Berlin, NJ--Dynasil Corporation of America, a photonics company headquartered in New Jersey, announced January 22 that it has acquired an optical filter product line from Precision Optics Corporation, Inc. (POC; Gardner, MA), through its wholly-owned subsidiary, Optometrics Corporation (Ayer, MA). The purchase includes the intellectual property, customer base, and equipment to produce a variety of high-performance optical filters that extend the market offerings of Optometrics. In addition to a $250,000 up-front cash payment, there is a royalty agreement on existing business for three years.
Dynasil chairman James Saltzman states, "Once we learned that POC had decided to focus on advanced optical systems for medical visualization, we were a natural steward for this unit since our Optometrics business is in their backyard. We are in an excellent position to provide a smooth transition for customers and employees."
The acquisition comes on top of the December 20th announcement of an agreement between Dynasil and an advanced instrument company that is planned to more than triple the size of Dynasil upon completion of the transaction. Rationale for the POC addition was discussed by Dynasil CEO and president, Craig T. Dunham: "This purchase fits our strategy of add-on acquisitions to grow our existing businesses. We plan to fully integrate the additional optical filter business into our Ayer, MA, location and anticipate incremental revenues of at least $500,000 per year, which we expect to be immediately accretive to earnings. The intellectual property and know-how adds a significant capability set to our company."
The Optometrics business where the POC product line will reside specializes in optical filters and diffraction gratings. Laura Lunardo, COO of Optometrics, noted, "The POC line will add Long Life Filters to our laminated interference filter product set, enabling Optometrics to offer a broader range of filters to the spectroscopy, astronomical, medical, and laser markets as well as to adjacent markets that we do not currently serve."
Craig Dunham added, "Between our subsidiaries, Optometrics Corporation and EMF Corporation in Ithaca, NY, we offer one of the most comprehensive coating services in the United States. We have standard and custom thin-film designs available from the UV to the far IR and can coat substrates from a few millimeters to 3 meters in diameter. Our engineering expertise and high quality customer service as well as the size and number of our chambers have enabled us to solve significant problems for customers with aerospace, automotive, display, communication and instrumentation applications."