Newport Corp. (NASDAQ: NEWP) is expanding its photonics test and measurement capabilities with the acquisition of ILX Lightwave Corp. The company has entered into a definitive agreement to acquire ILX Lightwave for $9.3 million in cash, subject to adjustment based on ILX’s net assets at closing. The transaction is expected to close this month.
Headquartered in Bozeman, MT, ILX Lightwave 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."
ILX Lightwave offers a broad range of photonics instrumentation, including 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.
ILX Lightwave will become a wholly owned subsidiary of Newport Corp, and will operate as part of the vendor’s Photonics and Precision Technologies Division.
For more information on test equipment and suppliers, visit the Lightwave Buyer’s Guide.