Dynasil to Acquire EMF Corp.
WEST BERLIN, N.J., Sept. 11, 2006 -- Dynasil Corp. of America announced it will acquire all the stock of Ithaca, N.Y.-based Evaporated Metal Films (EMF) Corp. for an undisclosed amount of cash.
Dynasil manufactures optical blanks from synthetic fused silica and other optical materials, as well as optical components and specialized optical systems for the laser, optical instrument and general optics markets. EMF Corp. produces optical thin-film coatings for display systems, optical instruments, satellite communications, lighting and other applications.
Closing of the transaction is contingent upon the completion of debt and equity financing efforts currently underway, Dynasil said. The deal is currently scheduled to close on Oct. 2.
Under the acquisition agreement, EMF will continue to operate in Ithaca as a Dynasil business unit and current EMF owner and CEO Megan Shay will stay on in an executive position for at least one year. EMF is expected to immediately increase Dynasil's revenues by 40 to 50 percent and to contribute significant net income in the future, Dynasil said.
For more information, visit: www.dynasil.com