03 Jan 2018
Acquisition strengthens EO's presence in Europe; forms basis for expanding manufacturing base in the region.Edmund Optics (EO), a significant developer and supplier of optical components, has announced the complete acquisition of optical products developer ITOS GmbH, based in Mainz, Germany.
After realizing the first equity investment during 2017, the acquisition was scheduled to be completed by January 1, 2018 and ITOS has therefore become a 100% subsidiary of EO. It will now operate as ITOS – A Division of Edmund Optics. Financial details of the deal were not disclosed.
ITOS has been producing optical components since 1993, including filters and polarizers. With its 24 employees at the time of the acquisition and more than 700 customers, ITOS is considered to be a successful company and for the US-headquartered Edmund Optics “the ideal complement to the company’s existing product portfolio.”
ITOS range to be expanded
The product range of ITOS will be perspectively expanded, said Edmund Optics, and it will be integrated into the global sales activities of Edmund Optics. At the same time, EO said this investment “strengthens our presence in Europe and forms the basis for expanding a manufacturing base within the region to serve European customers even better.”
Samuel Sadoulet, President and COO of Edmund Optics, commented, "Europe is one of Edmund Optics' most important markets and our experience shows that it is important to have a manufacturing base in the region to be able to react more flexibly to the demands of the market.” Sadoulet added that "ITOS is a long-time partner with familiar business structures, a similar corporate culture and a solid product range."
Horst Grode, Managing Director of ITOS, said, "Together, we will form the basis for a stronger presence in the German and European markets and focus on further global growth. ITOS will continue to provide its known and proven customer service, while the gradual integration into the Edmund Optics organization is pursued.”
Edmund Optics is a leading supplier of optics, imaging, and photonics technology for the life sciences, biomedical, semiconductor, R&D, and defense markets worldwide. The company designs and manufactures a wide array of multi-element lenses, lens coatings, imaging systems, and optomechanical equipment, while supporting OEM applications with volume production of both stock and custom products.
ITOS has been a competent industry partner for technical optics since 1993 providing solutions and delivering components meeting its customer's requirements. With more than 700 customers and a wide portfolio of products ITOS has developed strong competence in the field of optical filters, polarizers and display components and worked as a sales partner for Schott AG in Mainz since 1995.
|Ra Medical’s losses mount as sales costs soar|
|Oxford PV raises further £31m in funding|
|NVIDIA to acquire Mellanox for $6.9 billion|
|Quanergy and Athena offer LiDAR tech to the Indian market|
|Luna reports ‘strong’ 2018 results, buys General Photonics for $20m|
|MACOM, GlobalFoundries ramp silicon photonics for data centers|