Coherent, Inc. Acquires Nuvonyx, Inc.
SANTA CLARA, Calif., April 24 -- Coherent, Inc. (NASDAQ:COHR) today announced that it has acquired privately held Nuvonyx, Inc., (Saint Louis, MO). Nuvonyx is a technology leader in high-power (powers in excess of 1 Kilowatt) laser diode components, arrays, and industrial laser systems for materials processing and defense applications.
Nuvonyx produces the highest power arrays commercially available with powers in excess of 50 Kilowatts through its proprietary cooling and stacking technologies. The industrial laser systems are used for cladding and hardening of metals, joining materials, and other materials processing applications. Other near-term applications include welding of plastics and direct metal welding. Combined with Coherent's capability in laser diode bars, this acquisition represents both a vertically integrated and more cost effective approach than fiber lasers for certain applications.
"The addition of Nuvonyx marks Coherent's entry into the high-power materials processing market, an area with potential for significant long-term growth," said John Ambroseo, President and Chief Executive Officer of Coherent, Inc. "Nuvonyx's product and technical capabilities are an excellent enhancement to our arrays and components product lines, and provide the ability to pump our lasers at increasingly higher powers. We look forward to leveraging our worldwide distribution network, allowing our customers to benefit from the laser industry's broadest selection of laser components and this new range of high-power industrial lasers," Ambroseo added.
Dr. Mark Zediker, Founder, President and CEO of Nuvonyx commented, "The employees at Nuvonyx are excited to be part of a global industry leader with Coherent's scale and reputation. By combining with Coherent, Nuvonyx will be able to make an impact on the high-power laser systems and components market much faster than as a stand-alone entity."
Founded in 1966, Coherent, Inc. is a Standard & Poor's SmallCap 600 company and a world leader in providing photonics based solutions to the commercial and scientific research markets. Please direct any questions to Peter Schuman, Director, Investor Relations at 408-764-4174. For more information about Coherent, visit the company's Web site at www.coherent.com/ for product and financial updates.
Source: Coherent, Inc.
CONTACT:
Peter Schuman,
Coherent,
+1-408-764-4174
Web site: www.coherent.com/
