Newport to purchase Ophir Optronics Ltd.

Click to EnlargePosted by John McHale
IRVINE, Calif., 9 July 2011. Officials at Newport Corp. (NASDAQ: NEWP) agreed to acquire Ophir Optronics Ltd., in Jerusalem, Israel for about $230 million. Ophir is a designer and producer of photonics instrumentation, precision infrared optics, and 3D non-contact measurement equipment..

The acquisition is expected to strengthen Newport's photonics instrumentation expertise and enable the company to enter high growth applications such as thermal imaging and 3D non-contact measurement, says Robert J. Phillippy, Newport's president and chief executive officer.
The transaction is expected to close by the end of this year, subject to customary regulatory approvals, approval by Ophir's shareholders, and other standard closing conditions. Ophir will become a wholly owned subsidiary of Newport after the closing.
For the fiscal year ending March 31, 2011, Ophir had revenues of $111.8 million and operating income of about $12.5 million. Ophir has about 650 employees worldwide.


 


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