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We are pleased to announce that LightPath has executed a definitive agreement to acquire ISP Optics Corporation (“ISP”) for $18 million. Great news for you!
This acquisition expands the scope of both companies, adds geographic diversity, expanded capabilities and scale which allows us to grow while continuing to offer premier precision molded optics in the visible spectrum and focus on providing all our customers with the best photonics solutions available.
Headquartered in New York State and with major manufacturing operations in Latvia, ISP is a premier manufacturer of advanced infrared optical components, coatings, and optical sub-systems. ISP’s primary vertical markets are infrared lenses for sensors, military electro-optical products and infrared imaging cameras.
Acquisition Highlights
- Generates significant synergies through cross-selling of products, expanded product offerings, greater production and assembly capabilities as well as material processing capabilities.
- Combines two fast-growing high technology optical product pioneers to establish a premier, global, leading-edge industrial technology company.
- Combines LightPath’s high-volume molding technology with ISP’s high-value diamond turning, coatings and polishing capabilities to create a paramount solutions provider.
- The ISP business broadens LightPath’s global customer base significantly with nominal overlap.
- Expands LightPath’s market reach to include major operations in Asia, North America and now Europe with ISP’s Latvian operation.
Upon closing of the acquisition, which is expected to occur in the fourth quarter of calendar 2016, ISP will become a wholly-owned subsidiary of LightPath.
About ISP
ISP Optics Corporation is a vertically integrated manufacturer offering a full range of infrared products from high performance MWIR and LWIR lenses and lens assemblies. The Company’s infrared lens assembly product line includes athermal lens systems used in cooled and un-cooled thermal imaging cameras. ISP manufactures in-house precision optical components including spherical, aspherical and diffractive coated infrared lenses. ISP’s optics processes allow it to manufacture its products from all of the important infrared materials and crystals. Manufacturing processes include CNC grinding and CNC polishing, diamond turning, continuous and conventional polishing, optical contacting and advanced coating technologies.
Due to increases in demand over the past 18 months, ISP has implemented a major expansion in its diamond turning department and nearly doubling its production capacity. This makes ISP one of the most diverse and agile diamond turning operations in the world and enables it to provide fast, high quality solutions for customers. ISP manufacturing includes state of the art turning machines from Moore Nanotechnology and Precitech as well as metrology equipment from Zygo and Taylor Hobson within its temperature controlled facilities.
We look forward to partnering with you on your next optical project. Thank you for your continued patronage.
Sincerely,
Jim Gaynor
President & CEO
LightPath Technologies Inc.
407-382 - 4003 ext. 377 |
2603 Challenger Tech Ct Suite 100 Orlando, FL 32826
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