Palomar Acquires Axsys Fiber Automation Division

VISTA, Calif., Nov. 6 -- Palomar Technologies, a manufacturer of automated high-precision assembly systems, has acquired the Fiber Automation Div. (FAD) of Axsys Technologies.

The new organization, Palomar Photonics Automation, will continue engineering and manufacturing operations in its Pittsburgh facility as a wholly owned subsidiary of Palomar Technologies. Patents and intellectual property relating to nanopositioning and fiber alignment were included in the purchase. Terms of the acquisition were not disclosed.

In March 2002, Palomar Technologies and Axsys' FAD joined with two other companies in a strategic marketing alliance. Since then, they have been working closely to provide photonic component manufacturers with a single-source for precision assembly, test and alignment systems. The new Palomar Photonics Automation team will focus on providing photonic automation tools and process development solutions.

Axsys' FAD Vice President and General Manager Mike Formica and his staff will continue to manage the day-to-day operations of the new division.

Under the terms of the acquisition, substantially all former Axsys' FAD employees are being retained by Palomar Technologies. Worldwide marketing, sales and service will be handled out of Palomar's corporate offices in Vista.

For more information, visit: www.palomartechnologies.com