Newport Corp. Buys Montana Laser Equipment MakerThursday, December 29, 2011
Irvine-based laser maker Newport Corp. is set to acquire a Montana technology company that specializes in performance and measurement tests for $9.3 million.
Newport announced Wednesday it will buy Bozeman-based ILX Lightwave Corp., which makes temperature controllers, optical power meters, mounting fixtures and related accessories.
The deal is expected to close next month.
Newport makes lasers and related controls for telecommunications, chipmakers, researchers, medical companies and manufacturers.
The company expects the acquisition to positively affect earnings immediately after closing.
ILX distributes its products in North America, Europe and Asia. Its customers include Fortune 500 companies, national research laboratories, government agencies and schools.
The company sees about $8 million in annual revenue.
The ILX buy is Newport’s third acquisition in the last six months.
In July, it acquired Austria-based High Q Technologies GmbH—a family-owned maker of “ultrafast lasers” and lasers for surgical procedures—and Israel-based optics, instrumentation and measurement company Ophir Optronics Ltd.
Newport shares were up more than 1% in earlier afternoon New York trading, to a market value of about $518 million.