 |
 |
Date Announced: 02 Aug 2011
Ultrafast Laser Company Broadens Newport's Capabilities.
IRVINE, Calif., Aug. 2, 2011 /PRNewswire/ -- Newport Corporation (NASDAQ:NEWP - News) today announced that on Friday, July 29, 2011, it completed the acquisition of High Q Technologies GmbH ("High Q"), a leading developer and manufacturer of ultrafast lasers marketed under the High Q Laser® brand.
Financial terms of the transaction were not disclosed. Newport expects High Q to achieve revenues for the full year of 2011 of approximately $20 million. High Q's financial results will be consolidated with Newport's beginning immediately following the closing date and the acquisition is expected to be immediately accretive to Newport's earnings.
High Q is a leader in femtosecond lasers used for surgical procedures, a fast-growing application in the Life and Health Sciences market that Newport does not participate in currently, and in picosecond laser technology, which is ideally suited for a number of high-growth applications in Newport's precision industrial manufacturing markets. High Q is headquartered in Rankweil, Austria, with three-fourths of its sales to customers in Europe. The company will become part of Newport's Spectra-Physics Lasers Division.
Source: Newport
E-mail: via web site
Web Site: www.newport.com
| © 2024 SPIE Europe |
|
