Newport to Acquire Micro Robotics Systems

IRVINE, Calif., Jan. 31 -- Newport Corp. announced the signing of a definitive agreement to acquire Micro Robotics Systems Inc. (MSRI), a privately held manufacturer of high-precision, fully automated assembly and dispensing systems for the fiber optic communications, microwave and semiconductor equipment markets. The purchase price is estimated to be between $55 million and $65 million and is expected to be slightly accretive to Newport's full year 2002 results.

The transaction, subject to customary closing conditions, is expected to be completed in the first quarter of 2002. The payment includes a combination of cash and Newport stock and the assumption and conversion of certain MRSI stock options. Final valuation will vary based on Newport's share price when the transaction closes.