MIDDLEFIELD, Conn., Jan. 19, 2010 – Optical systems and components manufacturer Zygo Corp. announced today it will acquire Zemetrics Inc. of Tucson, Ariz., an optical metrology systems maker, for an undisclosed amount. Zygo also announced it has hired optical interferometry expert Dr. Chris Koliopoulos as its new CEO.
With the acquisition, the Connecticut-based company will further enhance its optical surface measurement product line and technology, providing its customers with a wider range of capabilities.
“The acquisition of Zemetrics, which has recently introduced an advanced product in the optical instrumentation market, further strengthens our offering in our core markets, which is a strategic focus of Zygo,” said Dr. Bruce W. Worster, chairman of the board at Zygo.
In other news, Zygo said that Koliopoulos, former president and CEO of ADE Corp., has been appointed president and CEO, effective immediately . He succeeds J. Bruce Robinson, who announced his retirement in October.
“I’ve spent much of my career competing with Zygo; it feels great to now be working with this optics powerhouse," Koliopoulos said.
Koliopoulos founded and led two optical metrology businesses, WYKO Corp. and Phase Shift Technology, and served as president of ADE Phase Shift after Phase Shift was acquired by ADE in 1998. He has also served on the faculty at the University of Arizona’s Optical Sciences Center and has a bachelor's degree in optics from the Institute of Optics at the University of Rochester. Additionally, he holds a master's degree and a PhD from the University of Arizona.
“He is widely regarded as an industry luminary, with his extensive experience in optical systems and proven ability to manage businesses in this space and drive shareholder value. We look forward to the many contributions that he can bring to Zygo,” said Worster of Koliopoulos.
The company also announced its board has retained Foros Securities LLC as its financial advisor and Fulbright & Jaworski LLP, the company’s outside legal advisor, to assist in evaluating the unsolicited proposal from II-VI Inc. to acquire the company.
For more information, visit: www.zygo.com