Newport Buying High Q
IRVINE, Calif., July 13, 2011 — Laser, components and positioning systems maker Newport Corp. announced Wednesday that it will broaden its ultrafast laser capabilities by acquiring High Q Technologies GmbH for an undisclosed amount. The company will join Newport's Spectra-Physics Lasers Div.
It was Newport's second acquisition in less than a week, as the company announced on July 8 its plan to acquire Ophir Optronics (See Newport to Acquire Ophir Optronics).
High Q, a family-owned business founded in 1999, has its headquarters in Rankweil, Austria, where it develops and manufactures ultrafast lasers under its High Q Laser brand. High Q also has a US sales office in Watertown, Mass., and has a total of about 70 employees.
One of the largest makers of ultrafast lasers in Europe, High Q Technologies expects 2011 revenue of approximately $20 million, with customers in Europe representing 75 percent of its sales. Newport said the acquisition will be accretive to earnings immediately after closing, which it expects to happen before the end of the third quarter.
"High Q is a leader in femtosecond lasers used for surgical procedures, a fast-growing application in the life and health sciences market that we do not participate in today," said Newport President and CEO Robert J. Philippy. "The acquisition will also increase our presence in European laser markets and will bring us significant additional expertise in picosecond laser technology, which is ideally suited for a number of high-growth applications in the precision industrial manufacturing market."
For more information, visit: www.newport.com
posted by Senior Editor Melinda Rose
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