Los Gatos, CA, February 25, 2003. Positive Light (PLI) has signed a definitive agreement to be acquired by Coherent, Inc. (Santa Clara, CA,). The transaction is expected to close at the end of March 2003. Positive Light is a leading designer and manufacturer of advanced solid-state lasers for the scientific and industrial markets.
Jeremy Weston, President of Positive Light commented, "Positive Light has a long standing commitment to provide advanced solid-state laser systems to scientific and industrial markets. We believe our products and technological expertise are complementary to Coherent's leadership in the market. As a result, both companies will have broader access to existing and emerging markets and applications."
Under the terms of the merger agreement, Positive Light will satisfy all of its obligations to its customers, vendors, and distributors. Current plans call for the company to continue its operations under the existing management team from its Los Gatos, California, facility.
Founded in 1991, Positive Light designs and manufactures advanced solid-state pulsed lasers for science and industry. Positive Light has delivered laser systems to universities, research labs, semiconductor manufacturers, and other industrial customers around the world. For more information about Positive Light, visit www.poslight.com .
Founded in 1966, Coherent, Inc. is a Standard & Poor's SmallCap 600 Company and a world leader in providing photonics based solutions to the commercial and scientific research markets. For more information about Coherent, visit www.coherentinc.com .
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