Lumibird to Acquire Convergent Photonics from Prima Industrie
Laser developer Lumibird has signed an agreement to acquire Convergent Photonics, a subsidiary of Italian company Prima Industrie, as well as the Convergent assets of Prima Industrie North America. Convergent is a designer and manufacturer of semiconductor lasers and laser diode packaging. Convergent also develops high-power fiber lasers for applications in the medical sector, including urology and surgery.
Terms of the deal were not disclosed. The companies expect the deal to be completed in the second half of this year.
According to Lumibird, the acquisition strengthens its position as a developer of semiconductor and high-power fiber lasers, and it opens new market segments for the company. The acquisition supports Lumibird’s position in optronics, and Lumibird expects the acquisition to support its business in new medical markets, beyond ophthalmology.
According to Lumibird, the acquisition will also enable it to become independent in the supply of critical components and give it greater capacity for innovation in materials and components while internalizing the margins on expensive components.
Giovanni Negri, CEO of Prima Industrie, said that the move will allow Prima to focus on its main business of sheet metal machinery and systems. Prima completed the spinoff operation of its additive manufacturing business unit as well as the consequent capital increases in the company 3D New Technologies in April 2022.
Lumibird last year acquired acquired Innoptics, a specialist in optoelectronic component packaging.
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