Navitar Enters into Definitive Agreement to Acquire Hyperion Development

Date Announced: 17 Feb 2016

Merger provides opportunity to expand Hyperion's production capabilities.

Rochester, New York – February 17, 2016 – Navitar, Inc, a leading USA‐based manufacturer of precision optics and imaging system components, has signed a definitive agreement to acquire Hyperion Development, LLC, a leading design firm and manufacturer of custom optical assemblies and OEM solutions. The companies expect the deal to close by the end of the first quarter.

Navitar owners, Jeremy and Julian Goldstein comment, “We are very excited to welcome everyone at Hyperion Development into the Navitar family. This transaction brings together two industry leaders and creates an optical design powerhouse. We will be operating out of four engineering, design, and production facilities located in San Ramon, CA, Woburn, MA, Denville, NJ and Rochester, NY.”

Hyperion Development has a history of designing innovative next generation Deep Ultraviolet (DUV) and Extreme Ultraviolet (EUV) semiconductor lithography systems. Their optical solutions range from ultraprecision microscope objectives, high volume electronic imaging lenses, cine prime lenses, mobile medical solutions, and infrared (IR) solutions for aerospace, defense, and photonics applications.

Hyperion Development expanded in 2014 with the acquisition of AMF Optics and American Diamond Turning, LLC. The newly consolidated company, AMF Optics, LLC, is located in Woburn, MA. This state of the art, ITAR registered, ISO 9000 certified facility, will continue to provide high quality traditional diamond turned optical components and infrared lens assemblies. All personnel at each company will be maintained and current facilities will remain in place.

Michael Thomas, co‐founder of Hyperion, sees this merger as an opportunity to expand Hyperion’s production capabilities thus moving their client’s products to market faster. According to Hyperion cofounder Russ Hudyma, “Navitar’s international presence and vertical integration will enable the team to reach more customers, speed up the design and prototyping process, and ensure our best-in-class solutions reach our customers on time and on budget.”

Jeremy Goldstein added, “The combined capabilities of Navitar and Hyperion Development just don’t exist at other optical firms around the world. Our unique abilities will continue to help our customers maintain their competitive position and help to strengthen their market leadership.”

The acquisition of Hyperion Development was a natural fit with Navitar’s long‐term strategy of providing more diverse optical solutions, specifically within the UV and IR spectrum, to both current and new customers. The acquisition brings together two industry leaders with sales in over 45 countries around the world.

Source: Navitar

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