09 Sep 2008
The British fibre laser specialist will complement TRUMPF's product portfolio in the lower power range.
The boards of TRUMPF and SPI Lasers have reached agreement on a takeover, in a deal which values the British fibre laser company at nearly £28 million.
The acquisition will see SPI Lasers become a base for further development of TRUMPF's fibre laser business, enabling both companies to achieve deeper penetration of industrial laser markets. TRUMPF's intention is that SPI Lasers retains and further develops its existing facility in Southampton as a centre for excellence in fibre lasers.
"I firmly believe that both SPI Lasers and TRUMPF will benefit from this proposed transaction," said Peter Leibinger of TRUMPF's laser technology and electronics division. "While the overall market for industrial lasers is expected to grow further in the future, particular growth is expected in the lower power range, an area in which SPI Lasers' products have already established a strong market presence."
David Parker of SPI said that his company was delighted with the proposed take-over. "Whilst we are proud of our achievements to date there is no doubt that with the support of the TRUMPF organisation we can take the business to a higher level and be a major player in this exciting sector," he said. "We see many opportunities to leverage our world class technology position into new products and markets and look forward to working within the TRUMPF group to achieve this."
Jenoptik also expects to benefit from the acquisition. The intention is for the laser and material processing division of the Jena-based optoelectronics group to gain access both to SPI's patents and know-how, both through the JT Optical Engine joint-venture it operates with TRUMPF and directly. Jenoptik intends to launch new fibre lasers products during 2008 and 2009, and believes that SPI Lasers' expertise will allow a significant reduction in the development times.