Wednesday, December 22, 2004

Advanced Photonix Acquires Photonic Detectors

Camarillo-based Advanced Photonix announced yesterday that it is acquiring Simi Valley-based Photonic Detectors Inc. for $1.2M in cash and stock. Photonic Detectors Inc (PDI) develops optoelectronic components and assemblies, specializing in high performance silicon photodiodes. Advanced Photonix said that the acquisition is expected to add to the company's market in the commercial, industrial, medical and military segments. PDI owners Dr. Robert Kinard and Dennis Mattock will join Advanced Photonix with the acquisition. PDI had $2.06M in revenues of a net operating loss of $75,000 for the fiscal year ending March 31, 2004, and net revenues of $1.2M and an operating loss of $101,000 for the first seven months. Advanced Photonix develops silicon-based electro-optical products for OEMs.