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Coherent Buys Excel Technology

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SANTA CLARA, Calif., Feb. 21, 2006 -- Laser maker Coherent Inc. announced today that it is acquiring East Setauket, N.Y.-based Excel Technology Inc., a manufacturer of laser systems and electro-optical components for industrial, commercial and scientific applications, in a deal worth approximately $376 million. According to a statement released by Coherent, the acquisition will be an all-cash transaction at a price of $30 per share of Excel Technology common stock, for a total approximate offer value of $376 million before fees and transaction costs. Coherent says it intends to pay for the...Read full article

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    Published: February 2006
    Glossary
    electro-optics
    1. The branch of physics that deals with the use of electrical energy to create or manipulate light waves, generally by changing the refractive index of a light-propagating material; 2. Collectively, the devices used to affect the intersection of electrical energy and light. Compare with optoelectronics.
    photonics
    The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...
    acquisitionsAmbroseoCoherentConsumerDominicelectro-opticsExcel TechnologyindustrialNews & FeaturesphotonicsstocktransactionLasers

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