ESI Acquires French Laser Company EOLITE
Electro Scientific Industries, Inc. (NASDAQ: ESIO), a leading supplier of innovative laser-based manufacturing solutions for the microtechnology industry, announced that it 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.
Nick Konidaris, ESI’s president and CEO, noted, “Leading edge laser capability is key for ESI to meet the challenges in state of the art materials processing. By combining the higher power amplification capabilities of EOLITE with the flexible pulse technology from our PyroPhotonics division we strengthen our ability to provide innovative solutions to our customers.” ESI intends to continue to market both the PyroPhotonics and EOLITE laser products into the commercial market for solar, microelectronics, and industrial applications.
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.