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Wednesday, Jun 19, 2024
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Newport Corp. to Acquire Austrian Company

Irvine-based Newport Corp., which makes lasers and related equipment, is set to acquire a small Austrian company that specializes in ultra-fast laser systems used in scientific and biomedical research.

Financial details of the transaction for Vienna-based Femtolasers Produktions GmbH were not disclosed. The buy is expected to close by April.

The company’s systems are billed as enabling advanced research applications to study physical, chemical and biological phenomena at the atomic and subatomic levels.

Femtolasers, established in 1994, has installed more than 850 systems in more than 30 countries.

Newport projects a revenue boost of $8 million to $12 million in the first 12 months after closing.

The infrequent acquirer said it expects the transaction to boost earnings but did not provide targets.

The company’s shares are up about 1% in early afternoon trading to a market value of $789.3 million.

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