Newport Corp. to acquire ILX Lightwave Corp. for $9.3M
Irvine, Calif. – Newport Corp. has entered into a definitive agreement to acquire ILX Lightwave Corp. for $9.3 million in cash, subject to adjustment based on ILX's net assets at closing.
Irvine, Calif. – Newport Corp. has entered into a definitive agreement to acquire ILX Lightwave Corp. (ILX), a manufacturer of high-performance test and measurement solutions for laser diodes and other photonics components, for $9.3 million in cash, subject to adjustment based on ILX's net assets at closing.
ILX, Bozeman, Montana, will become a wholly owned subsidiary of Newport Corp. and will operate as part of Newport's Photonics and Precision Technologies Division.
ILX expects 2011 revenues of approximately $8 million and is profitable. Newport expects the acquisition to be accretive to its earnings immediately after the transaction's closing, expected in January 2012.
"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," said Robert J. Phillippy, Newport's president and CEO. "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 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 distributes its products in North America, Europe and Asia, and its customers include Fortune 500 corporations, national research laboratories, and government and educational institutions, many of whom are already customers of Newport for other products.