Oxford, MA--Fiber-laser-maker IPG Photonics Corp. has acquired privately held, Cosytronic KG (Wissen, Germany), a specialist in automated welding and joining tools and techniques. The acquisition allows IPG to extend its product offerings to include a welding tool that integrates with IPG's fiber laser. The acquisition is expected to have no material effect on IPG's financial results in 2010; financial terms were not disclosed.
Cosytronic's capabilities will help IPG target create fiber-laser tools optimized for use in automotive, sheet-metal production, and other materials-processing applications. The two companies look forward to integrating their similar entrepreneurial cultures, according to Valentin Gapontsev, chairman and CEO of IPG Photonics.
"The combined company now has significantly more resources to target larger customers and new applications, and the ability to have stronger technical integration of the tool and the laser," said Heribert Heinz, founder and managing director of Cosytronic KG.
