Newport to Acquire Picarro's Laser Products Biz
IRVINE, Calif., Oct. 23, 2006 -- Photonics technologies supplier Newport Corp. today announced that it will acquire the Laser Products business of Sunnyvale, Calif.-based Picarro Inc. Terms of the deal were not disclosed.
Picarro's Laser Products business, located in Ottawa, Canada, designs and manufactures solid-state lasers, including the Cyan 488-nm blue laser, targeted primarily at the life and health sciences and process control markets. The business will become a part of Newport's Spectra-Physics Lasers Div. and is expected to have 2007 sales in the range of $5 million to $7 million, Newport said.
Newport Chairman and CEO Robert G. Deuster said in a statement that the acquisition will complement its Excelsior product line by adding a compact 488-nm solid-state laser and fill a gap in the company's laser product line for life and health sciences applications, a growing market that Newport wants to serve.
Picarro President and CEO Bill Gignac said that Newport is better positioned to maximize the potential of its laser business. Divesting will allow Picarro to concentrate on its ultratrace gas analyzer products, which have seen a significant increase in interest in the auto emissions, semiconductor process control, atmospheric monitoring and petrochemical markets, he said.
The transaction is expected to close in early November after standard closing conditions are met, Newport said.
For more information, visit: www.newport.com