Coherent acquires product lines From StockerYale

October 15, 2009--Coherent, Inc. (Santa Clara, CA) has acquired the North American operations of StockerYale, Inc. (Salem, NH) in an asset purchase for $15 million dollars in cash.

Oct 15th, 2009

October 15, 2009--Coherent, Inc. (Santa Clara, CA) has acquired the North American operations of StockerYale, Inc. (Salem, NH) in an asset purchase for $15 million dollars in cash. Coherent acquired all the assets and certain operating liabilities of StockerYale's laser-module product line in Montreal, Canada and the specialty-fiber product line in Salem, New Hampshire. As part of the transaction, StockerYale retired its senior debt, totaling $3.6 million, as well as its line of credit for $3.5 million.

StockerYale will continue to operate both StockerYale Ireland (SYI; Cork, Ireland), which manufacturers LED systems based on its proprietary chip-on-board LED technology, and Photonic Products, Ltd. (PPL; Hertfordshire, England), which distributes premium laser diodes and manufactures custom laser modules. SYI and PPL represented approximately 47% of total StockerYale revenues in 2008.

"In acquiring these two product lines, we gain access to the machine vision market and expand our bioinstrumentation opportunities through the laser diode module business," said John Ambroseo, president and chief executive officer of Coherent. "We also add core fiber technology, which will improve our time to market and enhance both the performance and reliability of our fiber-based product platforms."

Mark W. Blodgett, chairman and CEO of StockerYale, said that "this transaction enables the Company to significantly reduce debt and focus its resources on growing both our LED systems and PPL businesses. With increased focus, we are confident that we can improve both growth and profitability of these two businesses."
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--posted by John Wallace, johnw@pennwell.com

www.laserfocusworld.com.
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