SANTA CLARA, Calif., Nov. 2 /PRNewswire-FirstCall/ -- Coherent, Inc.
(Nasdaq: COHR) today announced that it has signed a definitive purchase
agreement to acquire the assets of privately held Iolon, Inc. of San Jose,
California in an all cash transaction of approximately $5 million. Prior to
the asset sale, Iolon designed and manufactured optical components including
widely tunable lasers and filters. Coherent intends to utilize the acquired
technology in its core portfolio, especially for products in the
instrumentation and display markets. The physical assets will be transferred
to Coherent's existing Santa Clara facilities.
"In order to enable broader markets for photonics, it is essential that we
further improve the robustness of our products, while reducing their size and
cost," stated John Ambroseo, President and Chief Executive Officer of
Coherent, Inc. "We believe that the technology and intellectual property that
we have acquired from Iolon will assist us in achieving these objectives,"
Ambroseo added.
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act
The statements in this press release that relate to future plans, events
or performance, including statements such our belief that the technology and
intellectual property acquired are important elements towards achieving more
robust products while reducing size and cost are forward-looking statements.
Factors that could cause actual results to differ materially include risks and
uncertainties, including risks associated to currency adjustments, contract
cancellations, manufacturing risks, competitive factors, and uncertainties
pertaining to customer orders, demand for products and services, and
development of markets for the Company's products and services and other risks
identified in the Company's SEC filings. Actual results, events and
performance may differ materially. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date
hereof. The Company undertakes no obligation to update these forward-looking
statements as a result of events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.
Readers are encouraged to refer to the risk disclosures described in the
Company's reports on Forms 10-K, 10-Q and 8K, as applicable.
Founded in 1966, Coherent, Inc. is a Standard & Poor's SmallCap 600
company and a world leader in providing photonics based solutions to the
commercial and scientific research markets. Please direct any questions to
Peter Schuman, Director Investor Relations at 408-764-4174. For more
information about Coherent, visit the Company's Web site at
http://www.coherent.com/ for product and financial updates.
SOURCE Coherent, Inc.
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Related links:
http://www.coherent.com
CONTACT:
Peter Schuman of Coherent, Inc.,
+1-408-764-4174
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