NEW YORK, July 14 -- Excel Technology Inc. (New York) acquired the assets of Baublys GmbH (Ludwigsberg, Germany) for about $4.5 million (US) in cash. Baublys manufactures laser marking systems, engraving systems and workstations.
Baublys is very strong in its field with a reputation for innovative and excellent engineering, applications and technical skills, said J. Donald Hill, chairman and CEO of Excel Technology. Excel has been gaining market share in Europe for laser marking applications, but in too many instances we have been limited in our ability to provide European customers with factory specific workstations. Baublys fills this gap. We intend to bring Baublys' expertise to Excel's European client base, and Excel's advanced laser science to Baublys' clients, to accelerate our market penetration, particularly in Europe.