Newport Corp. Buys Two Offshore Companies

Jul 14, 2011 8:18 PM  By

Newport Corp., which manufactures and markets lab instruments and laser technology products, has acquired two overseas businsesses.

The company announced its plans to acquire Ophir Optronics on July 11. Ophir specializes in catalog and custom precision IR optics, power and energy meters, beam profilers, and other photonic instrumentation, as well as 3D noncontact-measurement equipment.

Newport, which will pay $8.43 per share—or a total of $230 million in cash—expects the deal close in the fourth quarter. Following the closing, Ophir will be merged with a newly formed subsidiary of Newport and become a wholly owned subsidiary.

Headquartered in Jerusalem, Ophir has manufacturing operations in Israel and the U.S. and sales offices in the U.S., Japan, and Europe. The $111.8 million company has about 650 employees worldwide.

Just two days after the Ophir deal, Newport on July 13 agreed to acquire High Q Technologies, a Austrian developer and manufacturer of ultrafast lasers under its High Q Laser brand. Terms of the transaction were not disclosed.

The $20 million High Q, which is headquartered in Rankweil, Austria, also operates a U.S. sales and service office in Watertown, MA. It has about 70 employees worldwide.

Newport Corp., #99 on the 2010 MCM 100 ranking, posted direct sales of $122 million for 2010. The Irvine, CA-based company in June 2009 acquired the New Focus of high-performance photonics products in an exchange of assets and cash with Oclaro.