Newport Corporation has entered into an agreement to acquire High Q Technologies (Rankweil, Austria), a developer and manufacturer of ultrafast lasers. Newport has not disclosed the specific terms of the transaction, although the company has stated that it expects the deal to be completed before the end Q3 2011. High Q, which operates under the brand name High Q Laser, expects 2011 revenues of approximately $20m, with three-quarters of its sales going to customers in Europe. The company is profitable, and Newport expects the acquisition to have a positive influence on its earnings immediately after closing.
Robert J. Phillippy, Newport's president and chief executive, said: 'We are pleased to add High Q to our Spectra-Physics Lasers Division. High Q is a leader in femtosecond lasers used for surgical procedures, a fast-growing application in the life and health sciences market that we do not participate in today. The acquisition will also increase our presence in European laser markets, and will bring us significant additional expertise in picosecond laser technology, which is ideally suited for a number of high-growth applications in the precision industrial manufacturing market.'
Dr Daniel Kopf, founder and chairman of High Q Technologies, remarked: 'We are very pleased to become a part of the Newport team. Newport's Spectra-Physics Lasers Division is recognised as a technology leader in the laser industry, and their worldwide sales and service network will enable us to expand our business beyond what we could have achieved as a standalone company. Together we will provide an unmatched portfolio of ultrafast laser solutions for both existing and emerging applications.'
This acquisition follows Newport's announcement earlier this week of its intention to acquire Ophir Optronics, a developer of precision infrared optics, photonics instrumentation and three-dimensional non-contact measurement equipment, for a total consideration of $230m.