Tyco Electronics adds LDI to its Fiber Division
Tyco Electronics (Harrisburg, PA) has reached an agreement to acquire Laser Diode Inc. (LDI; Edison, NJ), which will become part of the Tyco Electronics Fiber Optic Division. Terms of the acquisition were not disclosed, but the heads of both organizations made strong positive statements. Robert Leggett, vice president of the Fiber Optic Division described LDI's optoelectronics products and packaging expertise as an "excellent complement" to its line of active products, such as MT-RJ SFF/SFP transceivers. LDI president Maurice Murphy said, "Tyco's size and strategic focus on the fiberoptics market are exactly what is needed to continue our growth."
Cree expands LED scope with Nitres acquisition
Cree (Durham, NC) is buying Nitres (Westlake Village, CA) by acquiring all outstanding and vested shares of Nitres stock in exchange for 1.5 million shares of Cree common stock in a pooling-of-interests transaction. Cree will issue 350,000 unvested Cree shares in exchange for unvested Nitres shares and will assume all outstanding Nitres stock options and warrants. Cree will also take a one-time charge of $3.5 million. Nitres is to become a wholly owned subsidiary called Cree Lighting Company. There will be no change to the way Nitres serves its customers, says Fred Blum, president and chief executive officer of Nitres. Cree and Nitres are both research-intensive companies that make GaN-based LEDs.
Rofin-Sinar acquires Baasel and boosts market share
Rofin-Sinar (Hamburg, Germany) has agreed to purchase 90.01% of the share capital of Carl Baasel Lasertechnik (Munich, Germany) from Mannesmann Demag Kraus-Maffei AG for $40 million in cash. Baasel produced about 800 lasers last year primarily for applications in marking, fine cutting and welding, sheet-metal cutting and welding, laser perforation, and medical applications. Combined revenues for Rofin-Sinar and Baasel during 1999 would have been about $190 million, ranking them among the world's largest producers of industrial lasers and laser-based advanced manufacturing systems.
Uniroyal expands opportunities with Sterling silicon carbide
Uniroyal Technology Corp. (Sarasota, FL) has agreed to acquire the capital stock of Sterling Semiconductor (Sterling, VA) for almost 1.5 million shares of Uniroyal common stock and the assumption of about $4 million of Sterling's long-term debt. Sterling produces and sells single-crystal silicon carbide substrates as well as epitaxial thin films on silicon carbide substrates. Uniroyal manufactures high-brightness light-emitting diodes. The acquisition "creates a variety of opportunities for expansion into devices that solve common problems in high-frequency communications, high-temperature, high-power, and optoelectronics applications," said Howard Curd, Uniroyal chairman and CEO.
German laser companies merge to expand internationally
Lasos Laser-Fertigung (Jena, Germany) has acquired another German laser company, BremLas Lasertechnik (Bremen, Germany). BremLas makes diode-pumped solid-state lasers. Lasos' expertise lies in the more-traditional gas-laser technology. The combined company, which will be called Lasos Lasertechnik, will look to expand its international customer base. Lasos has predominantly operated in Europe, but BremLas already has some established US customers.
Also in the news . . .
Prima Industrie (Turin, Italy) has signed a letter of intent for the proposed acquisition of Convergent Energy (Sturbridge, MA). . . . Lambda Physik, a subsidiary of Coherent Laser Group, is doubling its production capacity for lasers used to make telecom components. . . . Fairchild Semiconductor International has announced an agreement to acquire QT Optoelectronics Inc. (Sunnyvale, CA) for approximately $100 million, to be paid mainly in Fairchild stock . . . Micronic Laser Systems AB is planning an expansion of office space and production facilities in Näsby Park, Täby (Sweden).
Hassaun Jones-Bey
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