Dynasil has acquired an optical filter product line from Precision Optics Corporation (POC). The purchase includes the intellectual property, customer base and equipment to produce a variety of high performance optical filters that extend the market offerings of the Dynasil subsidiary Optometrics Corporation.
In addition to a $250,000 up-front cash payment, there is a royalty agreement on existing business for three years. Dynasil’s chairman, James Saltzman, said: ‘Once we learned that POC had decided to focus on advanced optical systems for medical visualisation, we were a natural steward for this unit since our Optometrics business is in their backyard.’
The acquisition comes on top of the announcement, made on 20 December 2007, of an agreement between Dynasil and an advanced instrument company that is planned to more than triple the size of Dynasil upon completion of the transaction.
Dynasil CEO and president, Craig T Dunham, said: ‘This purchase fits our strategy of add-on acquisitions to grow our existing businesses. We plan to fully integrate the additional optical filter business into our Ayer, MA, location.'
The Optometrics business, where the POC product line will reside, specialises in optical filters and diffraction gratings. Laura Lunardo, COO of Optometrics, said: ‘The POC line will add Long Life Filters to our laminated interference filter product set, enabling Optometrics to offer a broader range of filters to the spectroscopy, astronomical, medical and laser markets as well as to adjacent markets that we do not currently serve.'