NewswireToday - /newswire/ -
Boulder, CO, United States, 2012/04/25 - IDEX Corporation has acquired Precision Photonics Corporation for $20 million. The acquisition further solidifies IDEX's desire to consolidate the photonics industry - PrecisionPhotonics.com.
Boulder-based Precision Photonics Corporation is a leader in the precision optics and photonic components industry and has consisted of a team of world-class scientists and engineers since 2000.
IDEX Corporation is well known for providing fluid and metering technologies to some of the most recognized brands in the industry. IDEX also engineers fire & safety equipment as well as technologies in the medical, drug discovery and clinical diagnostics health & science field.
With Precision Photonic's experience in creating laser optics and coatings for the biomedical, telecommunication and defense industries, and IDEX Corporation's support in similar fields, it only made sense that IDEX would want to bring Precision Photonics into their business.
On April 11th, 2012, IDEX officially announced that they have finalized the decision to purchase Precision Photonics for $20 million.
The acquisition is no surprise to those in the industry after IDEX's buy-out of CVI Melles Griot last year and statements from Mike Cumbo, president of IDEX's optics and photonics business unit, on the company wanting to consolidate the photonics business and wanting to achieve 50% of its growth through acquisitions.
About Precision Photonics Corporation
Precision Photonics Corporation (precisionphotonics.com) is a leader in the photonics industry and offers a wide range of components, such as polarizing optics, high-energy laser mirrors, beam-splitters and etalons. Precision Photonics was founded in 2000 by scientists from NIST and JILA research institutions in Boulder, CO. The engineers at Precision Photonics have diverse backgrounds with experience in spectroscopy, metrology and high-volume manufacturing.