Newport has announced it is buying ILX Lightwave, a laser diodes and photonics components test and measurement company, for $9.3 million.
ILX, headquartered in Bozeman, Montana, expects to report 2011 revenues of about $8 million. The company is profitable and Newport expects the acquisition to be accretive to its earnings immediately. ILX will become a wholly owned subsidiary of Newport and will operate as part of its photonics and precision technologies division.
‘The addition of ILX, together with our recent acquisition of Ophir Optronics, will further enhance Newport's position as the industry's leading provider of photonics instrumentation and measurement equipment,’ said Robert Phillippy, Newport’s president and chief executive officer (CEO). ‘With our expanded portfolio of products and technology, we will offer our customers solutions to the most demanding applications in both the scientific and industrial markets.’
ILX offers a range of photonics instrumentation, including laser diode controllers and drivers, temperature controllers, current sources, optical power and wavelength meters. ILX distributes its products in North America, Europe and Asia, and its customers include large companies, national research laboratories and government and educational institutions.
Dr Larry Johnson, ILX's president, CEO and founder, said: ‘I believe that joining Newport will provide ILX with new opportunities to increase revenues and enhance our product offerings. Newport's expansive global sales and distribution channel will immediately increase the exposure of our products, and collaboration with Newport's technical team will enable us to accelerate the development of a wide range of next generation photonics instrumentation.’