Irvine, Calif. – Newport Corp has entered into an agreement to acquire High Q Technologies GmbH (High Q), a developer and manufacturer of ultrafast lasers under its High Q Laser brand.
Terms of the transaction, which is anticipated to close before the end of the third quarter, were not disclosed. High Q, headquartered in Rankweil, Austria, expects 2011 revenues of approximately $20 million, with 75 percent of its sales to customers in Europe. The company is profitable, and Newport expects the acquisition to be accretive to its earnings immediately after closing.
Last week, Newport announced it was buying Ophir Optronics Ltd.
"We are pleased to add High Q to our Spectra-Physics Lasers Division. The acquisition will also increase our presence in European laser markets and will bring us significant additional expertise in picosecond laser technology, which is ideally suited for a number of high-growth applications in the precision industrial manufacturing market," said Robert J. Phillippy, Newport's president and CEO.
Dr. Daniel Kopf, founder and chairman of High Q Technologies, remarked, "We are very pleased to become a part of the Newport team. Together we will provide an unmatched portfolio of ultrafast laser solutions for both existing and emerging applications."
High Q Technologies is a family-owned enterprise founded in 1999, and is one of the largest European makers of ultrafast lasers. The company is a recognized innovator with a significant intellectual property portfolio, and collaborates with leading research institutes in Europe and the US. The company operates a US sales and service office in Watertown, Mass.