Newport Acquiring ILX Lightwave
IRVINE, Calif., Dec. 28, 2011 — Photonics technology company Newport Corp.
reported Wednesday that it will expand its capabilities in photonics test and measurement by acquiring ILX Lightwave Corp. of Bozeman, Mont., for $9.3 million in cash.
ILX offers a broad range of photonics instrumentation, including laser diode controllers and drivers, temperature controllers, current sources, optical power and wavelength meters, semiconductor laser/LED burn-in, test and characterization systems, and fiber optic sources. The company expects 2011 revenues of approximately $8 million.
ILX will become a wholly owned subsidiary of Newport Corp, and will operate as part of Newport's Photonics and Precision Technologies Div.
"The addition of ILX, together with our recent acquisition of Ophir Optronics, will further enhance Newport's position as the industry's leading provider of photonics instrumentation and measurement equipment," said Newport President and CEO Robert J. Phillippy.
ILX is profitable, and Newport expects the acquisition to be accretive to its earnings immediately after closing. The purchase price is subject to adjustment based on ILX's net assets at closing, and the transaction is expected to close in January 2012.
"I believe that joining Newport will provide ILX with new opportunities to increase revenues and enhance our product offerings," said Dr. Larry Johnson, ILX president, CEO and founder, who added that collaboration with Newport's technical team "will enable us to accelerate the development of a wide range of next generation photonics instrumentation."
The acquisition is Newport's third of the year (See: Newport Buying High Q
and Newport to Acquire Ophir Optronics
For more information, visit: www.newport.com
—posted by Senior Editor Melinda Rose