StockerYale Acquires KLOE, S.A. of France

SALEM, N.H., March 19 -- StockerYale Inc. has signed a letter of intent for an undisclosed amount of stock and cash to acquire a majority owned interest in KLOE S.A. of Montpellier, France. The company said that the acquisition will allow it to design and fabricate integrated optical devices and circuits using KLOE's advanced proprietary sol-gel technology.
"Today's manufacturers of arrayed wave-guide gratings and integrated optics are still unable to reap all of the benefits associated with their fabrication technology because of the complexities associated with their fabrication process," said Alain Beauregard, StockerYale's president and chief technology officer. "KLOE has developed a unique and efficient sol-gel technology allowing the fabrication of optical integrated circuits at very low costs compared to existing methods. The acquisition of KLOE compliments our continuing R&D initiatives to design best-in-class specialty optical fiber and related components."