Israel’s V-Gen, which develops, manufactures and markets high quality innovative laser systems for a wide range of industrial applications, has been acquired by US company Newport Corp for anywhere from $15 to $20 million. The deal was closed sometime during this year’s third quarter.
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In the industrial field, the company develops and manufactures pulsed Ytterbium, Thulium, Erbium, Green and UV fiber-lasers for such applications as micromachining, fine processing and marking. V-Gen’s short pulse versions are also implemented in LIDAR and range-finding.
With a broad international base of installed systems, V-Gen laser solutions have earned the company a reputation for quality, reliability and innovation.
The company has as much as $10 million in annual revenue.
In a press release Newport Corp’s Senior VP and General Manager of Spectra-Physics Lasers Group David Allen said, “V-Gen has a strong track record of growth and profitability and we expect the acquisition to be accretive to our earnings immediately following the closing. We welcome the V-Gen team to Newport and look forward to their positive contributions to our Spectra-Physics Lasers Group.”
Dr. Eran Inbar, founder and Chief Executive Officer of V-Gen added, “We are excited to become part of Newport’s Spectra-Physics Lasers Group, which is a recognized leader in the laser industry. Their worldwide sales and service network and complementary technologies will enable us to expand our business beyond what we could have achieved as a stand-alone company. Together we will provide innovative laser solutions for both existing and emerging applications.”
Based in Tel Aviv and founded in 1998, V-Gen is a leading supplier of pulsed fiber lasers. The company currently has about 50 employees working in research and development, manufacturing and administration.
Newport Corporation is a leading global supplier of advanced technology products and solutions for Scientific Research, Life & Health Science, Aerospace & Defense, Photovoltaics, Industrial Manufacturing, Semiconductors, and Microelectronics markets.