Middlefiled, CT-- Zygo Corporation (NASDAQ: ZIGO), a provider of high precision optical components and optical metrology instruments, has entered into an agreement with ASML US, Inc. to purchase substantially all the assets of ASML's Richmond, CA facility. With this acquisition, Zygo will considerably expand its optical manufacturing capabilities, with the addition of high precision optical machining and polishing equipment, aspheric lens manufacturing and diamond turning assets. Zygo expects to hire key management and employees of ASML Optics Richmond and will operate the business in a 60,000 square-foot facility in Richmond, California. Coupled with Zygo's existing leadership position in metrology, large flat optics production and electro-optical design and manufacturing, the Richmond operation will provide highly synergistic capabilities that can immediately address new applications in semiconductor, defense and the life-sciences markets. The purchase price being paid by Zygo is the net book value of the acquired assets, expected to be between $7-$10 million, including current work-in-process inventory. The acquisition, which is subject to certain closing conditions, is expected to close by mid-November 2010. "The Richmond facility has a long history of producing many of the world's most advanced optical components and represents a strategic technology investment for Zygo," commented John Stack, President of Zygo's Optical Systems Division. "This acquisition adds to our existing advanced optical fabrication capabilities, and provides synergies with our Electro-Optics and Optical Metrology Accessories groups which should quickly enable Zygo to further meet the needs of the world's most demanding optical applications." Dr. Chris Koliopoulos, President and CEO of Zygo Corporation, commented, "This acquisition will further solidify Zygo Corporation as a world leader in extreme precision optical fabrication, where advanced manufacturing methods are combined with state-of-the-art preeminent optical metrology and surface testing. Over the past decades, the Richmond group has earned the highest respect in the optics industry, deservedly so. We look forward to this new addition to the Zygo family."
Find out more at www.zygo.comPosted by Steve AndersonFollow us on TwitterSubscribe now to Laser Focus World magazine; It's free!
Find out more at www.zygo.comPosted by Steve AndersonFollow us on TwitterSubscribe now to Laser Focus World magazine; It's free!
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