LOS GATOS, Calif., Feb. 14 -- Positive Light Inc. announced yesterday it has signed a definitive agreement to be acquired by Coherent Inc., of Santa Clara. The transaction is expected to close at the end of March 2003. Positive Light makes advanced solid-state lasers for the scientific and industrial markets. Jeremy Weston, president of Positive Light, said, "Positive Light has a long standing commitment to provide advanced solid-state laser systems to scientific and industrial markets. We believe our products and technological expertise are complementary to Coherent's leadership in the market. As a result, both companies will have broader access to existing and emerging markets and applications."
Under the terms of the merger agreement, Positive Light will satisfy all of its obligations to its customers, vendors, and distributors. Current plans call for the company to continue its operations under the existing management team from its Los Gatos facility.
For more information, visit: www.poslight.com