Optex Systems Acquires L-3’s Applied Optics Center for $1M
RICHARDSON, Texas, Nov. 17, 2014 — Seeking to branch out beyond military contracts, Optex Systems has acquired Applied Optics Center, formerly a division of L-3 Communications, for $1,013,053.
Applied Optics Center designs and manufactures complex thin-film coatings and optical assemblies for commercial and defense applications, including laser protection filters for the U.S. Army.
Optex manufactures optical sighting systems and assemblies for U.S. military land vehicles, as well as periscope configurations, rifle and surveillance sights and night-vision optical assemblies.
“Our corporate focus continues to be on merger and acquisition opportunities to take advantage of our underutilized capacity and low-cost manufacturing during this cycle of lower defense spending,” said Optex Chairman Merrick Okamoto. “We are excited this acquisition will provide new growth opportunities and a new commercial optical coating vertical, which will reduce our dependence on defense-related contracts.”
Optex CEO Danny Schoening said his company and Applied Optics Center have had a supply relationship for 20 years. “Serving many of the same customers, the synergies of the two companies provide additional competitive opportunities not served as separate entities,” he said.
For more information, visit www.optexsys.com.
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