StockerYale, a supplier of photonics-based products, has acquired UK-based Photonics Products for $9.4m in cash, stocks and bonds. It is hoped the strategic acquisition will significantly broaden StockerYale’s product portfolio, double its laser sales, and accelerate overall growth.
StockerYale produces structured light lasers, LED modules, and speciality optical fibres for industry leading OEMs. As Photonic Products is a leading laser diode manufacturer, the deal should significantly enhance performance of the company’s products and lead to greater market penetration. Historically StockerYale has sold primarily into the machine vision market, while Photonic Products sells to non-machine vision markets, so there exists very little overlap in the combined company’s addressable markets.
The acquisition will enable StockerYale to meet the needs of a larger OEM market for laser diodes and laser diode modules with a broad range of sophisticated laser modules at all price levels. Photonic Products expect to benefit from StockerYale’s expertise in optics and laser beam shaping.
Photonic Products, which recently received the Queen’s Award for Enterprise, will keep its current management. Mark W Blodgett, chairman and CEO of StockerYale, said: ‘Photonic Products’ leaders have a consistent track record managing profitable growth and our combined teams will be a powerful force for product innovation and the development of new customer applications for laser modules.’