Date Announced: 20 Mar 2012
Canadian firm sells unit to UK-based testing specialist Yelo.
QUEBEC, CANADA, March 20th, 2012 – Telops, leader in the field of hyperspectral imaging systems and high performance infrared cameras for the Defense and Security, Environmental, Oil and Gas, and Industrial markets, is pleased to announce the sale of its Laser Test & Burn-in Systems business unit to Yelo, a company specialized in the manufacture of custom Automated Electrical & Electronic Test Equipment.
The sale includes the V500, V1000, V2000, C1000 and C2000 product lines as well as related inventory, assets and intellectual property. The intellectual property transfer will take place over a one year period to ensure the transaction is as transparent as possible for current Laser Burn-in Systems customers. This transaction will enable Yelo to expand its product offering and reach an enlarged customer base.
Commenting on the transaction, Telops President and CEO Jean Giroux stated, "We are very pleased to announce this transaction. The sale of the Laser Burn-in Systems Business Unit is an important step in our strategic plan to focus on the company’s core business, infrared technology and optimize our business portfolio. The company has worked hard to build the Laser Test & Burn-in Systems business during the past years and considering Yelo has been a market leader for over 10 years in Laser Reliability, Lifetest and Burn In Systems, we are confident they will successfully continue to grow the business."
David Simms, Sales and Marketing Director for Yelo adds, "We are pleased to welcome the Telops laser product lines to Yelo. The acquisition strengthens Yelo’s position as the market leader in laser test, lifetest and burn-in systems and we will continue to innovate solutions for High Power Laser Diode products. As part of Yelo, this business will generate even greater sales and earnings in the future and will provide Yelo with significant new growth opportunities going forward. Our expanded portfolio of products and technology offers our customers proven solutions for the most challenging photonics test markets. Yelo will continue to support Telops’ existing systems and clients can continue to expect the same level of excellent customer service."
Web Site: www.yelo.co.uk