Tuesday, October 24, 2006
Newport Buys Laser Business From Picarro
Irvine-based Newport Corporation, a maker of advanced photonics technologies for the scientific, aerospace, defense, and industrial manufacturing market, said yesterday that it is in a definitive agreement to buy the Laser Product business of Picarro. The Ottawa, Canada-based business designs and manufacturings solid-state lasers for the life and helath science, and process control market. Newport said that the business will become part of its Spectra-Physics Lasers Division. Terms of the transcation were not disclosed. Newport said that the unit is expected to have 2007 sales in the range of $5 to $7M.