Mergers, Acquisitions and More
JUNE 2010 to MAY 2011
It sure has been a busy year for photonics companies as they dig further and further out from the economic downturn of 2008. Optimism has reigned in presentations and on the exhibit floors at trade shows and conferences, and not without reason: Business is picking up again.
During the CEO Roundtable at the recent Laser World of Photonics trade fair in Munich, John Ambroseo of Coherent predicted further consolidation within the industry. He said that there has been too much duplication of effort particularly in the materials processing sector of the industry, and that more innovation and greater profit will come from such increased collaboration.
In fact, there were so many mergers and acquisitions in photonics this year that we couldn't even print them all in their entirety in this year's Photonics Spectra List Issue; instead, we simply had to list them in the magazine and post the full details here.
Please note that the business moves below are gathered in the order in which first we reported on them and may not reflect the actual closing dates.
Carl Zeiss Ltd. of the UK acquired Imaging Associates (IMAS) Ltd. of Bicester, UK. IMAS has supported digital imaging platforms in research, clinical and industrial environments, and was expected to contribute its software application development expertise and support digital imaging platforms across Zeiss' microscopy portfolio.
Canada-based laser beam measurement products maker Gentec Electro-Optics Inc. acquired laser and terahertz measurement manufacturer Spectrum Detector Inc. of Oregon for an undisclosed amount. With the acquisition, Gentec could offer measurement products for the new and rapidly expanding terahertz market, ultrasensitive optical joulemeters, instruments for pulse to pulse energy measurements and optical TRAP detectors that act as primary calibration standards.
Goodrich Corp. of Charlotte, N.C., acquired Crompton Technology Group Ltd. (CTG) of Banbury, England, a maker of advanced carbon fiber composite products for the aerospace, defense, advanced vehicle and clean energy markets. Terms were not disclosed. Goodrich, whose subsidiaries include Sensors Unlimited Inc., supplies systems and services to the aerospace, defense and homeland security markets.
Mannheim, Germany-based Pepperl+Fuchs, a developer and manufacturer of electronic sensors and components for the global automation market, acquired the binary proximity sensor business of Siemens Industry Automation Div. of Nuremburg, Germany.
Optical test equipment maker Trioptics GmbH of Wedel, Germany, acquired the µPhase product line of interferometers from Switzerland-based Fisba Optik AG, along with Fisba's Berlin-based business, Fisba Optik GmbH. Financial terms were not disclosed. The µPhase line complements Trioptics's optical test equipment portfolio, which includes the TriAngle.
General Dynamics United Kingdom Ltd., a business unit of US-based General Dynamics, acquired privately held, Andover, England-based Kylmar Ltd., a manufacturer of sensor and optical surveillance systems for military and security applications. The value of the cash transaction was not disclosed.
The Boeing Co. of Seattle acquired Argon ST for $775 million ($34.50 per share) in an all-cash deal. Argon is based in Fairfax, Va., and develops command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) and combat systems; it also develops sensors and networks designed to exploit, analyze and deliver information for real-time situational awareness. It was expected to operate as a standalone subsidiary of Boeing and a new division of Boeing Network & Space Systems.
Prime Photonics LC of Blacksburg, Va., consolidated with its subsidiary, Prime Research LC. Founded by researchers from the Virginia Tech Center for Photonics Technology, the company has a Federal-sponsored R&D customer base; its prime technology areas include fiber optic and wireless sensors, energy harvesting and metamaterials with an emphasis on extreme environment sensor applications.
Eyecare company Alcon Inc. of Fort Worth, Texas, bought privately held Aliso Viejo, Calif.-based LenSx Lasers Inc., developer of a femtosecond laser used in cataract surgery, for $361.5 million. The LenSx system, the first femtosecond laser to receive US FDA clearance, enables surgeons to perform some of the most delicate manual steps of cataract surgery with image-guided visualization and micron-level laser precision.
St. Jude Medical Inc., a medical device company located in St. Paul Minn., acquired Westford, Mass.-based LightLab Imaging Inc. for approximately $90 million in cash. LightLab develops optical coherence tomography technology that aids physicians in the treatment of cardiovascular disease.
Optical test equipment manufacturer Trioptics GmbH of Wedel, Germany, founded a subsidiary in the US – Trioptics Inc. – and acquired Davidson Optronics Inc. of West Covina, Calif., strengthening its market presence in the US. The newly formed company, located at the Davidson Optronics headquarters, sells Trioptics' products and provides applications support and service in the US.
Leoni Fiber Optics GmbH of Berlin acquired RoMack Inc. of Williamsburg, Va., for an undisclosed amount. The acquisition was made through Leoni's US subsidiary, FiberTech USA Inc. of Chandler, Ariz. RoMack specializes in fiber optic systems for the aerospace, optical analysis, medical device and industrial laser markets. The business was renamed FiberTech RoMack Inc.
Ocean Optics Inc. of Dunedin, Fla., acquired the assets of Sandhouse Design LLC, also of Dunedin, a manufacturer of modular mid-infrared spectrometers, LEDs, light sources and other photonic products. The new product line is manufactured at Ocean Optics' Winter Park facility, and Ocean Optics handles all sales and support via its regional sales offices in the Americas, Europe and Asia.
Precision laser measurement company Ophir Optronics of Jerusalem, part of the Ophir-Spiricon group, has added scanning-slit technology to its beam profiling product line through the acquisition of Photon Inc. Financial terms of the deal were not disclosed. The latter company, based in San Jose, Calif., provides a range of instruments for aligning and building laser optical systems, for collimating lasers, and for characterizing fiber optic beams, lasers and other light sources.
Advanced technology products maker Newport Corp. sold its Margate, UK-based Hilger Crystals subsidiary to Dynasil Corp. of West Berlin, N.J., for $4 million in cash. Hilger manufactures a variety of synthetic crystals and detectors, imaging arrays and materials, primarily for x-ray detection applications. In January 2003, the company became part of Spectra-Physics, then joined Newport when Spectra-Physics was acquired by Newport in 2004. Dynasil makes specialized instruments and products, including handheld lead-detection instruments, medical probes, diffraction gratings for spectrometers, reflective coatings for solar energy concentrators, and fused silica for laser optics. Under the terms of the deal, if Hilger Crystals achieves certain specified sales targets in the 18 months following the closing, Newport will receive another cash payment totaling as much as $750,000.
Optical communications and laser products maker Oclaro Inc. of San Jose, Calif., acquired Mintera Corp., a privately held optical transport subsystems solutions provider in Acton, Mass., for an undisclosed amount. The acquisition broadened Oclaro's portfolio for high-speed telecommunications, offering components and subsystems covering all the major modulation technologies necessary for high-performance 40 Gb/s data transmission in regional, metro, long-haul and ultralong-haul networks.
Optical and scanning probe microscope systems maker Witec GmbH of Ulm, Germany, strengthened its position in measurement technology for industrial applications by acquiring a majority stake in OMT (Optische Messtechnik) GmbH, also of Ulm. OMT provides optical metrology tools and is particularly strong in providing industrial process control of parameters such as film thickness, color, sheet resistance, moisture and chemical composition.
Martek Power Inc. of Torrance, Calif., acquired Pennsylvania-based Laser Drive Inc., a producer of power supplies for various laser and light sources, for an undisclosed price. Laser Drive was rebranded as Martek Power Laser Drive. Martek manufactures custom power supplies and power converters for medical, networking, telecom, data storage, transportation, computing, military/aerospace and other industrial applications.
PerkinElmer Inc. of Waltham, Mass.,acquired VisEn Medical Inc. of Bedford, an in vivo molecular imaging technology company. The acquisition enabled PerkinElmer, which focuses on the health and safety of people and the environment, to enhance its cellular imaging business by expanding its technologies and capabilities downstream into preclinical research carried out by academic institutions and pharmaceutical companies. VisEn's proprietary fluorescence molecular imaging systems and reagents are used in research applications related to various diseases.
GT Solar International Inc. of Merrimack, N.H., acquired privately-held Crystal Systems Inc., a crystalline growth technology company that manufactures high-quality, large area sapphire substrates used in the LED, defense, medical and aerospace industries. Under the terms of the agreement, the Salem, Mass.-based company was purchased for approximately $24 million in cash, 5.4 million shares of GT Solar common stock and a $21 million cash earn-out based on the attainment of certain financial and technical targets. GT Solar provides polysilicon production technology, crystalline ingot growth systems and related photovoltaic manufacturing services for the solar industry.
Veeco Instruments Inc. of Plainview, N.Y., sold its metrology business to scientific instruments provider Bruker Corp. of Billerica, Mass., for $229 million in cash. The sale transferred Veeco Metrology to Bruker, including its atomic force microscope business in Santa Barbara, Calif., and its optical industrial metrology business in Tucson, Ariz., as well as Veeco's associated field sales and support organization. Additional terms of the transaction were not disclosed.
Specialty glass maker Corning Inc. of Corning, N.Y., acquired plastic-labware maker Plaslab SAS of France. Specific terms of the deal were not disclosed. The acquisition added sampling, testing and analysis consumables – including Petri dishes, bottles, containers, tubes and bags – to Corning's Life Sciences product portfolio.
Thermal imaging systems manufacturer Flir Systems Inc. of Wilsonville, Ore., acquired Arlington, Va.-based sensor maker ICx Technologies Inc. for approximately $274 million. The acquisition expanded Flir's capabilities into advanced sensors for the defense and homeland security markets, and enhanced Flir's existing intelligence surveillance and reconnaissance product suite through the addition of ICx's advanced radars and integrated platforms.
In Denmark, Foss A/S of Hillerød became the main shareholder in Ibsen Photonics A/S through the purchase of an additional 73 percent of shares from existing shareholders. Foss now owns about 85 percent of Ibsen, and the investment reflects a growing partnership between the two companies. Privately owned Ibsen is based in Farum and makes holographic, fused silica transmission gratings and spectrometer modules for telecom, analytical, sensing and laser applications. Family-owned Foss uses Ibsen products in its analytical instruments.
Inspection, metrology and characterization equipment developer Rudolph Technologies Inc. of Flanders, N.J., acquired selected assets of the Yield Dynamics software business from MKS Instruments of Andover, Mass., a global provider of technologies to power, control, measure and analyze advanced processes in high growth applications. The company's purchase included selected assets and intellectual property related to MKS yield management software used by semiconductor manufacturers and fabless semiconductor suppliers. Terms of the cash transaction were undisclosed.
Defense contractor BAE Systems Inc. of Arlington, Va., acquired Oasys Technology of Manchester, N.H., a privately owned maker of electro-optical systems and subassemblies for aerospace, defense, industrial and commercial markets.
Fiber optic component and susbsystem provider Finisar Corp. of Sunnyvale, Calif., bought transceiver products developer Broadway Networks Ltd. for an undisclosed amount in an all-cash transaction. Broadway had operating locations in San Jose, Calif., Beijing and Suzhou, China.
Industrial laser maker Rofin-Sinar Technologies Inc. of Hamburg, Germany, acquired Switzerland-based industrial Nd:YAG laser maker Lasag AG from The Swatch Group Ltd. for an undisclosed amount of cash. Based in Thun, Switzerland, Lasag has approximately 80 employees worldwide and maintains offices in the US, Japan, Germany and Italy.
The Thompson Group of Kalispell, Mont., acquired process analytical instruments maker Applied Instrument Technologies (AIT) of Pomona, Calif., for an undisclosed amount. AIT, a Hamilton Sundstrand Corp. business, was to be organized as a standalone company within The Thompson Group. AIT manufactures process analytical instruments, including Fourier transform infrared analyzers, near-infrared analyzers, mass spectrometers, process gas spectrographs and Raman analyzers used in the refining, petrochemical, chemical, pharmaceutical and steel industries to optimize their production processes.
The Riverside Co. of New York acquired the Life Sciences and Industrial Division of Quebec-based Exfo Inc., a test and service assurance solutions provider. The division, which was to be renamed the Lumen Dynamics Group (LDG) Inc., develops ultraviolet illumination and curing systems. Its patented technologies and processes utilize arc lamp, radiometry and LED technology, and its products are utilized in applications such as illumination for microscopes, spot curing of adhesives in manufacturing processes and curing of inks in digital printing. The Riverside Co. is a global private equity firm that focuses on acquiring growing enterprises valued at up to $200 million.
Electronic design automation provider Synopsys Inc. extended its engineering software capability into optical design and analysis by acquiring privately held Optical Research Associates (ORA) of Pasadena, Calif., for an undisclosed amount. ORA software allows engineers to design and optimize the optical components and systems found in products such as cameras, telescopes, semiconductor lithography equipment, projectors, laptop displays, automotive lighting, and solid-state lighting using LEDs. Acquiring ORA has allowed Synopsys, which is based in Mountain View, Calif., to move into the rapidly growing markets associated with displays and solid-state lighting using LEDs, as well as expand into markets such as semiconductor lithography equipment and cameras.
In Massachusetts, Waltham-based Olympus NDT purchased Innov-X Systems Inc. of Woburn, a portable x-ray fluorescence analytical instruments manufacturer. The latter company was to be operated as a business division of the former, retaining its management team and employees. The acquisition provided Olympus the opportunity to continue its commitment to nondestructive testing and related inspection technologies. The addition of x-ray fluorescence analytical instruments augments its portfolio of ultrasound, eddy current and remote visual instruments, including flaw detectors, thickness gauges, videoscopes, scanners and probes.
Zygo Corp. of Middlefield, Conn., a high-precision optical components and optical metrology instruments provider, bought ASML US Inc.'s optics facility in Richmond, Calif., for between $7 million and $10 million. Zygo expanded its optical manufacturing capabilities considerably with the addition of high-precision optical machining and polishing equipment, aspheric lens manufacturing and diamond turning assets, the company said.
Source Photonics Inc. of Chatsworth, Calif., was acquired for an undisclosed amount by technology-focused private equity fund Francisco Partners of San Francisco, the optical communication products maker announced last week. Source Photonics makes optical communication products used in telecommunication systems and data communication networks, including passive optical network subsystems, optical transceivers used in the enterprise, access, and metropolitan segments of the market, as well as other optical components, modules and subsystems.
Fiber laser maker IPG Photonics Corp. of Oxford, Mass., sold a 12.5 percent stake in its Russia-based subsidiary, NTO IRE-Polus, to the Russian Corporation of Nanotechnologies (Rusnano) for $25 million. Rusnano was established in 2007 to invest in nanotechnology development, including projects in solar energy, nanostructured materials, medicine and biotech, mechanical engineering and metal working, optoelectronics and infrastructure. Under the agreement, Rusnano could purchase up to an additional 12.5 percent of NTO for an additional $25 million over the next five years if NTO achieves certain sales targets. IPG will maintain majority ownership and control of NTO and has a call option after three years to buy back the minority stake at a predetermined value. Rusnano has an option after five years to sell its minority stake to IPG at a predetermined value.
As part of a plan to increase its business in Asia, laser maker Coherent of Santa Clara, Calif., acquired Malaysia-based Hypertronics in an all-cash transaction. Privately held Hypertronics designs and manufactures laser-based tools for flat panel, semiconductor, storage and biomedical applications. Hypertronics' engineering and integration center is in Singapore, and it has a low-cost manufacturing hub in Penang, Malaysia. The purchase price was not disclosed.
Chicago-based Ametek acquired Atlas Material Testing Technology, a provider of weathering test instruments and related testing and consulting services, also of Chicago, from Industrial Growth Partners for approximately $159 million in cash. Ametek M&CT designs, manufactures and distributes material test instruments for a wide range of applications, such as tensile, hardness and force testing; high-accuracy temperature, pressure and signal calibration; and pressure, level, position and temperature sensing.
ZJF Group of Zhejiang, China, an integrated plastic optical fiber systems and solutions provider, acquired Cork, Ireland-based Firecomms Ltd., a manufacturer of transceivers for consumer plastic optical fiber. The deal guarantees a 5-million-euro investment in R&D, together with the expansion of Firecomms' engineering team from 18 to 30 people over the following year.
In California, analog mixed-signal integrated circuits manufacturer Microsemi Corp. of Irvine acquired Mountain View-based Actel Corp. for approximately $430 million. Actel supplies low-power, mixed-signal and radiation-tolerant field-programmable gate arrays that serve the military, aerospace, industrial, communication and consumer markets.
Electrical test instruments and systems provider Keithley Instruments Inc. of Cleveland merged with Aegean Acquisition Corp., an indirect wholly owned subsidiary of Danaher Corp. Under terms of the merger, all outstanding common shares and class B common shares of Keithley Instruments were converted into the right to receive $21.60 per share, in cash, without interest. Now an indirect wholly owned subsidiary of Danaher, Keithley no longer trades its shares on the New York Stock Exchange.
Crystal growth technology company II-VI Inc. of Saxonburg, Pa., acquired Max Levy Autograph (MLA) Inc., a maker of microfine conductive mesh patterns for optical, mechanical and ceramic components. Financial terms were not disclosed. At its 30,000-sq-ft facility in Philadelphia, the MLA team of research and manufacturing engineers has developed technologies that use electroforming and -plating and microfine diamond contouring for precision patterns on substrates to serve the medical and commercial markets.
Hella KGaA Hueck & Co. of Lippstadt, Germany, a manufacturer of lighting and electronic components and systems for the automotive industry, announced it will increase its stake in Neustadt, Germany-based Docter Optics GmbH by acquiring Rodenstock Technologies Holding, becoming the majority shareholder. Docter Optics manufactures projection lenses made from optical glass for manufacturers of vehicle headlights; it also manufactures optical components and systems.
Optical components and systems manufacturer Gooch & Housego of Ilminster, UK, acquired Boston-based optoelectronic components and subsystems maker EM4 Inc. Financial terms were not disclosed. EN4's products include lasers, detectors and high-frequency receiver or transmitter electronics, primarily for aerospace and defense extreme environment applications, but also for the industrial and life sciences sectors.
Electronic instrumentation and subsystems maker Teledyne Technologies Inc. of Thousand Oaks, Calif., acquired digital imaging and microelectromechanical systems (MEMS) provider Dalsa Corp. of Waterloo, Ontario, Canada, for approximately CAD $341 million (about $336 million) in cash, with the new company to be known as Teledyne Dalsa. Under the deal, Teledyne will pay CAD $18.25 per share to acquire Dalsa, which is based in Waterloo. Dalsa's imaging products include high-resolution CCD and CMOS imaging sensors, electronic digital cameras and image processing software for use in industrial machine vision, advanced medical imaging, and high-resolution aerial and satellite imagery.
Bruker acquired Hamburg-based Sigma ElectroOptics GmbH to expand its infrared remote detection gas-analysis business. Sigma was to be integrated into the Bruker Optics infrared and Raman spectroscopy division in Ettlingen; financial terms of the deal were not disclosed. Sigma produces remote gas-sensing systems based on dispersive and Fourier transform infrared (FTIR) spectroscopy, and is developing novel hyperspectral infrared imaging products. The company previously had a successful relationship with Bruker as an OEM.
Thermo Fisher Scientific Inc. of Waltham, Mass., acquired Lomb Scientific, a laboratory chemicals, consumables and instruments provider in Australia and New Zealand, which was integrated into both of Thermo Fisher's business segments: Analytical Technologies and Laboratory Products and Services. Thermo Fisher aims to enable its customers to make the world healthier, cleaner and safer, most notably through pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions and government agencies.
LumaSense Technologies Inc. of Santa Clara, Calif., a maker of temperature and gas sensing products, acquired Buellton, Calif.-based InfraredVision Technology Corp. (ITC) from L-3 Communications. Financial terms of the deal were not disclosed. ITC produces vanadium oxide microbolometer detectors, used in thermal imaging systems such as infrared cameras; LumaSense provides temperature- and emissions-monitoring sensors and cameras to the energy, industrial and clean technology markets and was looking to expand its offerings into areas such as public safety, including security, traffic control and firefighting.
Opto Diode Corp. of Newbury Park, Calif., a division of ITW and a member of the ITW Photonics Group, acquired of International Radiation Detectors (IRD) Inc. of Torrance, Calif., a semiconductor radiation device manufacturer. The company now offers all of IRD's products, including advanced, long-operational-life photodiodes available with extremely high quantum efficiency and radiation hardness. Opto Diode provides high-performance, standard and custom photodetectors as well as high-quality, standard and custom infrared and visible LEDs.
Optics manufacturer Rochester Precision Optics (RPO) acquired ASE Optics, also based in Rochester, to expand its design and research services, the company announced recently. The purchase price was not disclosed. ASE was formed in 1994 and has provided optical engineering services and research to clients ranging from government agencies to Fortune 500 companies. ASE Optics became a wholly owned subsidiary of RPO, which was formed in 2005 when it acquired the assets of Kodak Optical Imaging Systems.
Nanosemiconductor company Kopin Corp. of Taunton, Mass., expanded its display technologies portfolio by acquiring Scotland-based reflective microdisplays manufacturer Forth Dimension Displays (FDD) Ltd. FDD makes ultrahigh-resolution reflective microdisplays used in cinematography, training and simulation, 3-D metrology and medical imaging. Kopin manufactures mobile computing headsets, ultrasmall liquid crystal displays for consumer and military applications and heterojunction bipolar transistors used in wireless handsets. The purchase price was approximately $11 million in cash plus an earnout provision if certain revenue milestones are reached within one year of the purchase date.
Agilent Technologies Inc. of Santa Clara, Calif., expanded its spectroscopy product offerings by purchasing the privately held A2 Technologies. Financial details were not disclosed. The acquisition included substantially all of Danbury, Conn.-based A2 Technologies' intellectual property, technology, employees and its spectroscopy product portfolio. A2 Technologies manufactures FTIR spectrometers for routine analysis and out-of-lab applications in the petrochemical, environmental, aerospace, art conservation, academic and geoscience markets.
Global defense and security company BAE Systems of Arlington, Va., acquired Fairchild Imaging Inc. of Milpitas, Calif., for a cash consideration of approximately $86 million; Fairchild was a privately held company that manufactures solid-state electronic imaging components, cameras and systems for aerospace, industrial, medical and scientific applications.
High-speed interconnect provider Molex Inc. of Lisle, Ill., acquired Luxtera Inc.'s active optical cable business, including its Blazar and other derivative optical transceiver products. Luxtera, of Carlsbad, Calif., a silicon CMOS photonics provider, transferred all aspects of its existing and future optical cable business to Molex, including QSFP+ (quad small form factor pluggable) 40-Gb/s Ethernet and InfiniBand products and customers. The acquisition included an exclusive agreement for Luxtera to develop and supply advanced chip sets for future Molex products that are based on Luxtera's silicon photonics technology.
ON Semiconductor of Phoenix will acquire the CMOS Image Sensor Business Unit (ISBU) of Cypress Semiconductor Corp. of San Jose, Calif., in an all-cash transaction of approximately $31.4 million. The ISBU became an integrated part of ON Semiconductor's Digital, Military/Aerospace and Image Sensor Div. ON Semiconductor's current products target 1-D image sensing with a focus on contact image sensing and ambient/proximity sensors.
Telemis, a medical imaging solutions provider in Louvain-la-Neuve, Belgium, acquired Micromedica Ltd., a picture archiving and communications system vendor in Turin. In 2009, Telemis extended its operations into Italy with the opening of Telemis Italia srl.
Digital industrial camera provider Allied Vision Technologies GmbH of Ahrensburg acquired 100 percent of the shares of camera manufacturer VDS Vosskühler of Osnabrück; both companies are in Germany. The acquisition increased Allied Vision's portfolio with the addition of near-IR and long-wavelength IR camera technologies as well as active camera cooling.
Based in Billerica, Mass., Bruker Corp., a provider of scientific instruments and systems for molecular and materials research, acquired Michrom Bioresources Inc. of Auburn, Calif. Michrom, a privately held company, provides liquid chromatography instrumentation, accessories and consumables for applications in the life sciences, chemical and applied markets. It launched the Advance nanoflow liquid chromatography system and CaptiveSpray ionization sources for coupling to mass spectrometry in proteomics and other life sciences applications.
Electronic and electro-optic components provider GigOptix Inc. of Palo Alto, Calif., acquired Endwave Corp. of San Jose, Calif., a provider of radio-frequency (RF) solutions and semiconductor products for the wireless mobile backhaul and satellite communications, electronic instruments, and defense and security markets. The deal allowed the companies to provide high-speed products in both wireless mobile backhaul and optical networks.
The j-fiber Group of Jena, Germany, acquired Schott Lithotec's synthetic fused silica technology, allowing it to provide optics and laser markets with high-purity synthetic silica. The transaction involved the transfer of processes, people and expertise. Schott Lithotec is based in Mainz, Germany. J-fiber bought Schott's fused silica melting process, including burner, annealing and selected machinery for further silica treatment, as well as measurement technology for quality assurance, process documentation material and patents.
Thermo Fisher Scientific Inc., based in Waltham, Mass., acquired all of the outstanding shares of Dionex Corp. of Sunnyvale, Calif., for $118.50 per share in cash, or a total purchase price of approximately $2.1 billion. The acquisition added Dionex's ion and liquid chromatography portfolio to Thermo Fisher's existing chromatography capabilities and strengthened the software growth platform.
Emcore Corp. of Albuquerque, N.M., acquired the product line and intellectual property of Soliant Energy Inc. of Monrovia, Calif., a developer of concentrated photovoltaic (CPV) systems for commercial rooftop applications. Emcore acquired Soliant's equipment, inventory, software, licenses, intellectual property and tooling for the product line. Emcore provides compound semiconductor-based components and subsystems for the fiber optic and solar power markets.
Texas Instruments Inc. (TI) of Dallas, Texas, acquired National Semiconductor of Santa Clara, Calif., for $6.5 billion in cash. TI makes 30,000 analog products, and its manufacturing base includes the first 300-mm analog factory. National has a portfolio of 12,000 analog products. (Editor's note: Both companies were nominated for Prism Awards for photonics innovation: Texas Instruments in 2010 for its DLP segment's Digital Light Processing LightCommander, and National Semiconductor, which won the award in 2009 for its SolarMagic optimizer in the Sustainable/Green Technology category.)
Teledyne Dalsa Inc. acquired a minority interest in the parent company of Optech Inc., a maker of laser-based survey and digital imaging instrumentation. Based in Vaughan, Ontario, Canada, Optech offers standalone and fully integrated lidar systems and imaging products used in airborne terrestrial mapping and bathymetry, mobile mapping and laser imaging, as well as space-qualified sensors for orbital operations and planetary exploration. Terms of the transaction were not disclosed. Teledyne Dalsa Inc. is a subsidiary of Teledyne Technologies Inc. As part of its investment in Optech, Teledyne received an option to purchase 100 percent of the shares of the company after three years.
British photonic instruments maker and light-measurement equipment distributor Pro-Lite Technology Ltd. acquired SphereOptics GmbH of Uhldingen, Germany. The purchase price was not disclosed. Pro-Lite and SphereOptics both concentrate on the lighting, LED, display and automotive markets with photometric, spectroradiometric and goniophotometric test equipment for luminaires, solid-state lighting, lamps, displays and LEDs.
Colorado Springs, Colo.-based Optis Group announced the acquisition of SimplySim SAS of Cary, N.C., a software provider for rendering, simulation and robotics. The addition of the latter's technology will allow Optis to integrate its new real-time product portfolio into a state-of-the-art 3-D platform for greater realism in global simulation.
Radiant Imaging Inc. of Redmond, Wash., which specializes in light and color measurement, and optical systems provider Zemax Development Corp. of Bellevue, Wash., merged, backed by capital from Evergreen Pacific Partners, a private equity fund. By combining resources, the two companies offer an end-to-end solution for developers designing, testing and producing the next generation of display devices and LED lighting.
Advanced Laser Materials (ALM) of Temple, Texas, which develops and manufactures materials for rapid manufacturing, acquired a majority stake in Integra Services of Temple, Texas, which offers technical expertise to the laser sintering business. The acquisition was designed to enable ALM to transition from providing prototypes to offering complete manufacturing services for the laser sintering business.
GE Healthcare, a unit of General Electric Co., acquired Applied Precision Inc. of Issaquah, Wash., a supplier of cellular imaging technologies for cell biology and biomedical research. Applied Precision's proprietary technologies complement GE Healthcare's IN Cell Analyzer systems, used for high-throughput subcellular analysis in cell biology research, most notably for drug discovery and biomarker research. Financial terms were not disclosed.
Navitar Life Sciences Inc., an affiliated entity of of Rochester, N.Y.-based optics manufacturer Navitar Inc., acquired assets of Glen Cove, N.Y.-based Modulation Optics and its Hoffman Modulation Contrast (HMC) imaging technology. HMC imaging is used in the identification and characterization of stem cells in live-cell observation and analysis systems.
Lasers and optical equipment maker CVI Melles Griot of Albuquerque, N.M., will be acquired by engineered industrial products manufacturer Idex Corp. of Lake Forest, Ill., for $400 million in cash and will serve as the cornerstone of its expanding optics and photonics platform, Idex announced in May. Albuquerque, N.M.-based CVI Melles Griot has annual revenue of approximately $185 million. CVI will be acquired by Idex from Norwest Equity Partners, a market equity investment firm, and will operate within Idex's Health and Science Technologies segment. CVI, the latest photonics-industry company of several that Idex has acquired in recent years, is expected to be accretive to its earnings within the first full year after acquisition; two other recent acquisitions are ATFilms and Semrock. The transaction is subject to regulatory approval and other customary conditions and was expected to close within 30 to 45 days of the announcement.
LMI Technologies of Delta, B.C., Canada, a maker of 3-D laser measurement sensors for industrial measurement and control applications, sold 100 percent of its shares to join Augusta Technologie AG, a publicly listed German sensor and vision technology company. Located in Munich, Germany, Augusta focuses on two market segments: sensors and vision. Through Augusta, LMI will expand its distribution channels for Gocator, an all-in-one 3-D measurement sensor.
Fiber optic test equipment supplier AFL of Spartanburg, S.C., signed an agreement to acquire telecommunications and network implementation and integration provider TCC Group of Bracknell, England. TCC Group will join the AFL global portfolio to provide communications services to the European market. The acquisition is expected to enhance the US company's engineering, material logistics and installation capabilities, enabling it to expansion in Europe.
Compiled from postings on Photonics.com
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