Electro Scientific (ESIO) Acquires EOLITE in $10M Deal

June 19, 2012 9:00 AM EDT
Electro Scientific Industries, Inc. (Nasdaq: ESIO), has acquired EOLITE Systems, a designer and manufacturer of unique fiber lasers. EOLITE, based in Pessac, France, is a leading innovator in pulsed fiber laser technology.

The acquisition provides ESI direct access to differentiated, higher power fiber laser technology, which can be used in a broad set of microfabrication applications. EOLITE’s differentiation is in the use of rod type photonic crystal fiber, which generates higher power and stores more energy than flexible fibers. The acquisition of EOLITE provides ESI the ability to customize lasers to specific applications for differentiated capability and lower cost.

ESI paid approximately $10 million in cash for 100% of the shares of EOLITE Systems and expects the acquisition to be nominally dilutive in the near term before transaction and other acquisition-related costs.

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