Acquires leading provider of laser beam delivery technologies, including ultrafast precision polygon motors and laser scanning solutions, to OEMequipment suppliers
BEDFORD, Mass. - GSI Group Inc. (NASDAQ: GSIG) (the "Company", "we", "our", or "GSI"), a global leader and supplier of laser, precision motion, and vision technologies to original equipment manufacturers in the medical and advanced industrial markets, today announced that it has reached an agreement to acquire the assets of Lincoln Laser Company, a Phoenix, Arizona-based provider of ultrafast precision polygon scanners and other optical scanning solutions for the medical, food processing, and advanced industrial markets for $11 million in cash, subject to customary working capital adjustments. The transaction is expected to close in November of 2015.
Lincoln Laser Company's family of ultrafast, polygon-based beam steering solutions are highly complementary to GSI's existing galvanometer-based beam delivery products. The Lincoln Laser Company business will integrate within Cambridge Technology, a GSI business unit and leading provider of galvanometer-based, optical scanning solutions for advanced industrial and medical applications. Lincoln Laser Company specializes in ultrafast scanning, leveraging their expertise in polygon motor design, electro-optic subsystems, and exceptional customer service.
"The combination of Lincoln Laser Company with Cambridge Technology creates an expanded range of highly competitive beam delivery technologies that significantly enhances our value proposition with OEM customers in growth applications," said John Roush, Chief Executive Officer at GSI.
"As the functionality of lasers becomes faster and more precise, we are now well positioned to provide the latest in ultrafast beam steering solutions to our customers," added Chris Tecca, President of Cambridge Technology. "The addition of the Lincoln Laser Company's technology and their extensive industry knowledge extends our capabilities to further penetrate attractive applications. We're very excited that the Lincoln Laser Company management team will join us and continue to run its operations as this will provide continuity and enhance our engineering expertise."
Cambridge Technology has been designing, developing and manufacturing innovative beam steering solutions including galvanometer-based optical scanning components, 2-axis and 3-axis scan heads, scanning subsystems, high-power scanning heads, and controlling hardware and software for more than 40 years. Cambridge Technology excels in collaborating with its key OEM partners to engineer products that range from large engineering solutions to small components. Key market applications include advanced industrial processes, medical microscopy, ophthalmology, OCT, and any application where laser beam steering is required.
Lincoln Laser Company has been designing, developing and manufacturing polygon based laser scanning components and electro-optic subsystems to OEM customers around the world in complementary applications for more than 40 years. Lincoln Laser Company's products can be found in the world's most advanced, high-speed sorting and inspection systems, retinal wide field imaging systems, large field metrology equipment, and laser based skin treatment systems.
GSI Group Inc. designs, develops, manufactures and sells precision photonics and motion control components and subsystems to Original Equipment Manufacturers ("OEM") in the medical equipment and advanced industrial technology markets. The Company's highly engineered enabling technologies include laser sources, laser scanning and beam delivery products, optical data collection and machine vision technologies, medical visualization and informatics solutions, and precision motion control products. It specializes in collaborating with OEM customers to adapt its component and subsystem technologies to deliver highly differentiated performance in their customers' applications. GSI Group Inc.'s common shares are quoted on NASDAQ under the ticker symbol "GSIG".
More information about GSI is available on the Company's website at www.gsig.com. For additional information, please contact GSI Group Inc. Investor Relations at (781) 266-5137 or InvestorRelations@gsig.com.
GSI Group Inc.
Investor Relations Contact:
Robert J. Buckley
SOURCE GSI Group Inc.
Web Site: http://www.gsig.com