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IPG Photonics Acquires JPSA

OXFORD, Mass., Sept. 4, 2012 — IPG Photonics Corp. announced today that it has acquired privately held industrial laser maker J.P. Sercel Associates Inc. (JPSA) to accelerate fiber laser penetration into the $800 million fine-processing markets. Financial terms of the deal were not disclosed; the business will operate under the name IPG Microsystems LLC.

Manchester, N.H.-based JPSA supplies ultraviolet excimer and diode-pumped solid-state (DPSS) industrial laser micromachining systems for precision processing in high-volume manufacturing. IPG said the acquisition enables it to expand its integrated laser systems product offerings for fine processing, precision cutting, drilling, and micromachining of nonmetals, including glass, semiconductors and ceramics. JPSA's systems perform advanced laser micromachining, microcutting, scribing and laser liftoff for semiconductors, microfluidics, LEDs, thin-film solar panels, microelectromechanical systems (MEMs), biomedical technology and industrial automation applications.

"This acquisition broadens our customized laser-based systems offerings and provides significant sales synergies," said Dr. Valentin Gapontsev, CEO of IPG Photonics. "The combination of JPSA's specialized laser systems and the UV and short-pulse fiber lasers that IPG is developing now should allow us to deepen our penetration of the $800 million fine-processing market. In addition, we expect that the development expertise of the very experienced JPSA team would benefit our capabilities in other micromachining applications."

JPSA is expected to add approximately $4 million to IPG’s revenues for the remainder of 2012, the company said. At current revenue levels, the acquisition is expected to be dilutive by 1 to 2 cents per share in 2012, and is expected to be accretive in 2013.

“Strong demand exists for better-quality short-wavelength and short-pulse-width laser sources in applications addressed by JPSA’s products,” said Jeff Sercel, CEO and chief technology officer of JPSA. “While we will continue to sell our UV and excimer laser systems as well as systems which use DPSS lasers, we strongly believe there are significant growth opportunities using advanced fiber lasers to displace traditional laser sources in high-growth applications. Together, we will be able to sell into new applications, expand geographically and accelerate into markets where there are needs for advanced fiber laser technology.”

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