Newport Corporation (NASDAQ: NEWP) today reported that it has entered into a definitive agreement to acquire ILX Lightwave Corporation (“ILX”), a market and technology leader in high-performance test and measurement solutions for laser diodes and other photonics components.
On December 28, Newport Corporation agreed to acquire ILX Lightwave Corporation, for $9.3 million in cash.
ILX , headquartered in Bozeman, Montana, is a supplier of high-performance test and measurement solutions for laser diodes and other photonics components. The product line includes laser diode controllers and drivers, temperature controllers, current sources, optical power and wavelength meters, semiconductor laser/LED burn-in, test and characterization systems, and fiber optic sources. The company expects 2011 revenues of approximately $8 million. The company is profitable, and Newport expects the acquisition to be accretive to its earnings immediately after closing.
Robert J. Phillippy, Newport’s President and Chief Executive Officer, said, “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. 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.”
http://www.newport.com http://www.ilxlightwave.com
