Advanced Photonix Buys Optoelectronics Company

In California, Advanced Photonix Inc. (API) of Camarillo, has purchased the outstanding capital stock of Photonic Detectors Inc. (PDI) of Simi Valley, for $1.08 million in cash and 113,572 shares of API common stock. The amount of cash is subject to change based on PDI's balance sheet on the date of closure.

PDI manufactures optoelectronic components and assemblies, with a specialty in silicon photodiodes. Its technology serves the commercial, military, medical and industrial control markets, among others. Through the acquisition, API will broaden its customer base and increase its manufacturing capacity by integrating PDI product assembly into its operations.