LumaSense Acquiring Mikron Infrared for $65M
SANTA CLARA, Calif., Feb. 9, 2007 -- Sensing instrumentation maker LumaSense Technologies is acquiring Mikron Infrared Inc. in a deal worth $65 million, it was announced today.
Under terms of the agreement, Mikron Infrared will merge with Red Acquisition Corp., a subsidiary of LumaSense. Mikron stockholders will receive $11.50 in cash for each of their shares -- a 17.6 percent premium above the stock's closing price on Thursday.
Mikron Infrared is based in Oakland, N.J., and is a provider of advanced non-contact temperature measurement products and thermal imaging systems, spectrometers and other infrared instruments to the energy, medical, industrial and semiconductor markets.
“Mikron is an exceptional company with very talented people and unique solutions that will significantly strengthen our position in sensor instrumentation for the industrial, medical and energy markets,” said Vivek Joshi, LumaSense CEO. “Mikron provides significant opportunities for synergies in research and development, manufacturing, and marketing and sales. We are excited about what this means for our current and future customers as we continue to complement and enhance our offerings through strategic acquisitions and organic growth.”
Mikron's board of directors has approved the transaction subject to receiving regulatory approval; the deal still needs to be voted on by the company's shareholders, Mikron said.
For more information, visit: www.lumasensetech.com