GSI Lumonics Acquires, Sells Units
GSI Lumonics Inc. of Kanata, Ontario, Canada, has acquired precision optics manufacturer
General Optics Inc. of Moorpark, Calif., for an unspecified cash payment. Meanwhile, it completed the sale of its life sciences business to
Packard BioScience Co. of Meriden, Conn., for US $40 million in cash and about 4.6 million shares of Packard stock.
The sale and acquisition point to GSI Lumonics' increasing emphasis on products for communications. The company said General Optics' 80 employees offer particular expertise in coating and substrate cleaning.
Charles Winston, GSI Lumonics' president and CEO, said that with the acquisition and the recent optics manufacturing expansion in Nepean, Ontario, the company expects to increase communications optics sales to 8 to 10 percent of total sales next year.
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