StockerYale Sells 2 Units
SALEM, N.H., March 2, 2006 -- StockerYale Inc., a Salem, N.H., provider of photonics-based products, announced today it has completed the sale of two of its business units that it previously announced it was exiting effective Dec. 31.
The company's StockerYale Asia subsidiary was sold to Radiant Scientific Pte. Ltd., and its fiber optic lighting business was sold to Techni-Quip Corp. of Pleasanton, Calif. The two business units were sold for a total of $1.1 million, which included $525,000 in cash and the assumption of approximately $570,000 of liabilities. The sale to Radiant, which was founded by the company's Singapore management team, was structured as a stock sale, and the sale to Techni-Quip was in the form of an asset purchase. In addition, StockerYale agreed to supply specialty fiber products to Techni-Quip over a five-year period with a minimum value of $275,000 and a maximum value of $550,000.
"These sales bring the company further along its stated goal of focusing on its three core businesses -- lasers, LEDs and specialty optical fiber -- while maximizing the value of discontinued operations," said Mark W. Blodgett, CEO of StockerYale.
StockerYale makes structured light lasers, LED modules and specialty optical fibers for OEMs, as well as fluorescent lighting products and phase masks for machine vision, industrial inspection, defense, telecommunication, sensors and medical markets.
For more information, visit:
www.stockeryale.com
LATEST NEWS
- Exail Signs LLNL Contract, Partners with Eelume
Apr 26, 2024
- Menlo Moves U.S. HQ: Week in Brief: 4/26/2024
Apr 26, 2024
- Optofluidics Platform Keys Label-, Amplification-Free Rapid Diagnostic Tool
Apr 25, 2024
- DUV Lasers Made with Nonlinear Crystals Enhance Lithography Performance
Apr 25, 2024
- Teledyne e2v, Airy3D Collaborate on 3D Vision Solutions
Apr 24, 2024
- One-Step Hologram Generation Speeds 3D Display Creation
Apr 24, 2024
- Innovation Award Winners for Laser Technology Honored in Aachen
Apr 23, 2024
- Intech 2024: AI Arrives on the Shop Floor
Apr 22, 2024