Irvine-based Newport Corp., a maker of lasers and related gear, said Monday it’s buying the Canadian laser products arm of Sunnyvale’s Picarro Inc.
Terms of the deal weren’t disclosed. The buy is expected to close in November.
Newport makes lasers and equipment to control them for telecommunications equipment, chipmakers, researchers, medical devices and factory equipment.
The company counts yearly sales of about $440 million and a recent market value of about $770 million.
The acquired Picarro unit is expected to have 2007 sales of $5 million to $7 million.
The deal builds on a bigger one Newport made two years ago when it paid $400 million for Thermo Electron Corp.’s Spectra-Physics unit, a maker of machines for producing lasers.
The move made Newport the “Wal-Mart” of lasers, according to one analyst who follows the company.
