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25 January 2012
Photonics giant Newport Corp. says it has completed the previously announced acquisition of ILX Lightwave.  Newport reported that it paid $9.3 million (€7.2 million) in cash, subject to an adjustment based on ILX's net assets at closing.
Headquartered in Bozeman, Montana, ILX Lightwave specialises in photonics instrumentation, including laser diode controllers and drivers, temperature controllers, current sources, optical power and wavelength meters, semiconductor laser/LED burn-in, test and characterization systems, and fibre-optic sources.
"We are pleased to welcome ILX to the Newport team," said Robert J. Phillippy, Newport's president and CEO in a statement. "In 2012, Newport will benefit from almost a full year of the accretive results we anticipate from this acquisition." ILX is a profitable company with 2011 revenues of approximately $8 million.
Newport has been expanding via acquisition.  In the past six months, it has acquired Ophir Optronics, High Q Technologies, and now ILX, which together had approximately $160 million of revenue in 2011. These businesses combined are expected to have generated almost $25 million of earnings before interest, taxes, depreciation and amortization (EBITDA) in 2011, according to the company.
"We are confident that, as a part of Newport, these businesses will generate even greater sales and EBITDA in the future, and will provide Newport with 
significant new growth opportunities going forward," said Phillippy.
Newport is a global supplier of technology products and systems to customers across a range of markets, including scientific research, aerospace and defence, microelectronics, life and health sciences and precision industrial manufacturing markets.
By Pauline Rigby