Newport Corporation Enters Into Agreement to Acquire FEMTOLASERS
Acquisition Expected to Be Accretive and Extend Newport's Leadership in Ultrafast Lasers
IRVINE, Calif. –Â Newport Corporation (NASDAQ: NEWP) today announced that it has entered into an agreement to acquire FEMTOLASERS Produktions GmbH, a leading developer and manufacturer of ultrafast laser systems used extensively in scientific and biomedical research applications. Widely recognized for developing the world's highest precision ultrafast lasers, FEMTOLASERS enables some of the most advanced research applications, including the pioneering of attosecond (10(-18 )second) science to study physical, chemical and biological phenomena at the atomic and subatomic levels.
"We are excited to announce our agreement to acquire FEMTOLASERS, which will advance our strategic initiative to extend our industry leadership in ultrafast lasers," said David Allen, Senior Vice President and General Manager of Newport's Spectra-Physics Lasers Group. "FEMTOLASERS has developed some truly impressive leading-edge technology that will be invaluable as we work together to develop the next generation of ultrafast lasers. We welcome the FEMTOLASERS team to Newport and look forward to their contributions to our Spectra-Physics Lasers Group."
Established in 1994, FEMTOLASERS is headquartered in Vienna, Austria and has an installed base of more than 850 systems in over 30 countries. In the first 12 months after closing, Newport expects FEMTOLASERS' sales to be in the range of $8 million to $12 million, and expects the transaction to be accretive to its earnings. Terms of the transaction, which is anticipated to close during the first quarter of 2015, were not disclosed.
ABOUT NEWPORT CORPORATION
Newport Corporation is a leading global supplier of advanced-technology products and systems to customers in the scientific research, microelectronics, life and health sciences, industrial manufacturing and defense and security markets. Newport's innovative solutions leverage its expertise in advanced technologies, including lasers, photonics and precision motion equipment, and optical components and sub-systems, to enhance the capabilities and productivity of its customers' manufacturing, engineering and research applications. Newport is part of the Standard Poor's SmallCap 600 Index and the Russell 2000 Index.
Learn more about Newport at www.newport.com
SOURCE Newport Corporation
CONTACT: Charles F. Cargile, 949/863-3144, Newport Corporation, Irvine, CA, investor@newport.com, Christopher Harrison, 212/896-1267, KCSA Strategic Communications, newport@kcsa.com
Web Site: http://www.newport.com
