StockerYale Acquires Ireland's CorkOpt
SALEM, N.H., June 7 -- In return for $2.45 million, StockerYale Inc. acquired CorkOpt Ltd. of Cork, Ireland. StockerYale issued the privately held company 62,691 shares of common stock at $35 per share and paid the balance of the consideration in cash. CorkOpt will continue its operations in Ireland as a wholly owned subsidiary of StockerYale.
CorkOpt, Ltd. is a producer of specialized illumination solutions that integrate on-board LED and photodetector chips and arrays together with custom optics. According to StockerYale, its manufacturing and R&D capabilities combined with CorkOpt's LED technologies will enable the company to better provide its customers with state-of-the-art LED illumination systems for machine vision, industrial inspection, and microscopy applications.
This acquisition will speed time to market with new and innovative LED illumination solutions while complementing our suite of specialized illumination products which include fiber optic, fluorescent, and structured light laser technologies, said Mark W. Blodgett, CEO of StockerYale.
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