Electro Scientific (ESIO) Acquires EOLITE in $10M Deal
Tweet
Share
E-mailGet Alerts ESIO Hot Sheet
Join SI Premium – FREE
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.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Bernstein on whether Hershey (HSY) could eventually step up to buy Mondelez (MDLZ)
- Vireo Growth completes acquisition of C21 Investments
- Two Harbors receives final approval for CrossCountry Mortgage merger
Create E-mail Alert Related Categories
Mergers and AcquisitionsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
