GSI Lumonics Acquires MicroE Systems

BILLERICA, Mass., April 13 -- GSI Lumonics Inc. announced yesterday it has signed a definitive agreement to acquire all the shares of MicroE Systems Corp. for $55 million in cash. The transaction was approved by the boards of both companies and will be completed subject to customary closing conditions.

MicroE Systems, located in Natick, makes position encoders for precision motion control applications in data storage, semiconductor and electronics, industrial automation and medical markets.

Charles Winston, GSI Lumonics' president and CEO, said, "The agreement to acquire MicroE Systems is consistent with the company's stated acquisition strategy. MicroE Systems products and technology will complement GSI Lumonics' existing portfolio of enabling precision motion components and subsystems."

GSI Lumonics supplies precision motion control components, lasers and laser-based advanced manufacturing systems to medical, semiconductor, electronics and industrial markets.

For more information, visit: www.gsilumonics.com