NORWOOD. Mass., April 26 -- Boston Laser Inc. has acquired Polaroid's laser diode development and manufacturing business for an undisclosed amount of cash and securities. Under the terms of the agreement, Boston Laser's purchase includes certain assets, patents and licensing from Polaroid, as well as other patents related to the laser diode business.
Our external customer base for laser diodes has been growing and we're pleased that Boston Laser plans to invest in developing it further. This sale supports our strategy of focusing on growing our core imaging business, said Robert S. Murray, vice president of Polaroid. Aharon Meytahl, Boston Laser's CEO, commented, The market for laser diode products is exploding. Boston Laser is strategically positioned to provide laser systems for telecommunications, medical, optical memory and graphics.