IPG Photonics has acquired Cosytronic KG (COSY), a privately-held, Germany-based company specialising in joining technology automated welding systems. IPG hopes that the acquisition will allow it to extend its product offerings to include welding tools that will integrate with IPG's fibre lasers.
COSY's core capabilities include the development, engineering and application of new, modern joining techniques and innovative welding tools for many material processing end-markets. IPG does not expect the acquisition to have any baring on its financial results for 2010, although the financial terms of the acquisition were not disclosed.
'With the acquisition of Cosytronic, we plan to enhance IPG's product portfolio of laser welding tools with fibre lasers - a promising complementary market for us,' said Dr Valentin Gapontsev, IPG Photonics' chairman and CEO. 'Combining our state-of-the-art fibre laser technology with COSY's proven and innovative laser welding technology opens exciting opportunities to build robust integrated robotic solutions for various automotive, sheet metal production and other material applications. Both companies have complementary expertise, strong market reputations and a passion for technological innovations. We look forward to integrating our similar entrepreneurial cultures and further strengthening our leadership position in fibre lasers and solutions.'
'We are excited to join IPG Photonics,' commented Heribert Heinz, founder and managing director of Cosytronic KG. 'The combined company now has significantly more resources to target larger customers and new applications, and the ability to have stronger technical integration of the tool and the laser. IPG is a natural strategic fit for COSY and we believe this will benefit both companies' customers.'
The latest commercial product from COSY is the fibre-based Laser-Seam-Stepper for laser welding applications. Laser welding can be applied in car body plants and in the production of sheet metal components.
