ISP Optics Buys Coatings Unit
IRVINGTON, N.Y., July 3, 2008 -- Infrared optical components maker ISP Optics Corp. announced this week it has acquired the infrared optical coating assets of Opticorp Inc., of Chelmsford, Mass. Financial terms were not disclosed.
Opticorp primarily provides thin-film coating services to the optics industry and infrared low-emissivity material production for the defense industry. ISP Optics President Joseph Menaker said acquiring coating capabilities means Irvington-based ISP can now provide its customers with complete infrared optics solutions. "We are certain that the addition of Opticorp will open new strategic venues for ISP Optics and enhance our product offering to our customers,” he said.
All Opticorp's employees are now working for ISP Optics at the Chelmsford facility, including Opticorp owner David Smith, who will manage coating operations for ISP Optics.
"We are very enthusiastic about our new relationship with ISP Optics," Smith said. "We have been providing optical coatings to ISP Optics for many years, and the quality of their optics and the knowledge of their staff has always been first rate. Our combined experience in optical fabrication, diamond turning, and optical coatings will allow ISP Optics to provide a streamlined experience for our customers, allowing us to provide quality and performance in less time."
Investment banking firm DAK Group of Rochelle Park, N.J., served as financial advisor to ISP Optics.
For more information, visit: www.ispoptics.com