Newport to Acquire Companies
Newport Corp. of Irvine, Calif.,
is acquiring Ophir Optronics Ltd. of Jerusalem for $230 million in cash and High
Q Technologies GmbH of Rankweil, Austria, for an undisclosed amount, to strengthen
its position in photonics instrumentation and broaden its ultrafast laser capabilities.
Ophir makes infrared optics, laser measurement instrumentation and 3-D noncontact
measurement equipment. Its acquisition will be completed through a merger of that
company with a newly formed subsidiary of Newport, with Ophir becoming a wholly
owned subsidiary of Newport. The transaction is expected to close in the fourth
quarter of 2011, subject to receiving required regulatory approvals, the approval
of Ophir’s shareholders and other customary closing conditions. Newport expects
it to be immediately accretive to its earnings.
High Q Technologies will join Newport’s Spectra-Physics
Laser Div. A developer and manufacturer of ultrafast lasers under its High Q Laser
brand, it expects 2011 revenue of approximately $20 million, with customers in Europe
representing 75 percent of its sales. Newport expects the acquisition to be accretive
to its earnings immediately after closing, which it said should happen before the
end of the third quarter.