Qioptiq Buying Point Source

Optical systems manufacturer Qioptiq announced today that it is strengthening its laser capabilities by acquiring Point Source Ltd., a producer of fiber-optic laser delivery systems and lasers.

Point Source is based in Hamble, England, employs 70 people and generated approximately $22 million in revenue for 2007. It specializes in fiber-optic laser delivery systems and lasers for commercial applications in biotechnology and semiconductor manufacturing, offering single-mode laser-to-fiber couplers and fiber-coupled lasers in the ultraviolet, visible and near-infrared wavelengths.

Qioptiq Group was formed in December 2005 when private equity firm Candover bought Thales' high tech optics business units operating in the UK, the US, Singapore, Germany and Hungary. The Group, based in Luxembourg, has businesses organized into three divisions -- Optical Systems, Defence & Aerospace, and Precision Optics -- to serve the defense, industrial, medical, aerospace, scientific, projection and telecommunications markets with optical systems, modules, subassemblies and components. It has more than 2200 employees and generated $335 million in revenue for 2007.

Point Source will become part of Qioptiq's Optical Systems Div. headed by Group Vice President Volker Brockmeyer. The division primarily makes advanced optical system products for information technology and communications, health care and life sciences industrial manufacturing, and microptics.

Qioptiq CEO Benoit Bazire said in a statement of the acquisition, “As a Group we have an existing small laser capability, yet it is an important part of the whole photonics arena. As such, we have been looking to strengthen our range of capabilities. The acquisition of Point Source brings us a considerable fiber-optic laser capability which will be invaluable to the Group, giving our client base a more complete choice of services and solutions.”

"This is a very exciting next step in our journey. Joining the Qioptiq Group opens up a range of international markets for us and provides a significantly broader range of products and services for our customers. I am especially pleased with the great career opportunities it gives Point Source employees both here in the UK and abroad," said David Pointer, managing director of Point Source, in the same statement.

Qioptiq said it expects the acquisition, subject to customary closing conditions, to be completed in about 45 days.

For more information, visit: www.qioptiq.com