Dynasil Buys Line from POC
WEST BERLIN, N.J., Jan. 22, 2008 -- Photonics company Dynasil Corp. of America announced today that it has acquired the optical filter business of Precision Optics Corp. (POC) Inc. of Gardner, Mass.
The product line being acquired includes the intellectual property, customer base and equipment to produce a variety of high-performance optical filters and will be integrated into Dynasil's subsidiary in Ayer, Mass., Optometrics Corp.
"Once we learned that POC had decided to focus on advanced optical systems for medical visualization, we were a natural steward for this unit since our Optometrics business is in their backyard. We are in an excellent position to provide a smooth transition for customers and employees," said Dynasil Chairman James Saltzman. Optometrics specializes in optical filters and diffraction gratings. Dynasil is based in West Berlin, N.J., and makes optical materials, components, coatings and instruments for applications in the medical, industrial and defense markets.
"The POC line will add long-life filters to our laminated interference filter product set, enabling Optometrics to offer a broader range of filters to the spectroscopy, astronomical, medical and laser markets as well as to adjacent markets that we do not currently serve," Optometrics COO Laura Lunardo said.
In addition to an initial payment of $250,000 in cash, there is a royalty agreement on existing business for three years, Dynasil said.
"This purchase fits our strategy of add-on acquisitions to grow our existing businesses. We plan to fully integrate the additional optical filter business into our Ayer, Mass., location and anticipate incremental revenues of at least $500,000 per year which we expect to be immediately accretive to earnings. The intellectual property and know-how adds a significant capability set to our company," said Dynasil CEO and President Craig T. Dunham.
Today's acquisition announcement follows Dynasil's Dec. 20 statement that it will acquire an unspecificed advanced instrument company, a move that will more than triple the company's size (See Dynasil to Triple Under Deal).
For more information, visit: www.dynasil.com