Hamamatsu to Explore Further Action in Planned NKT Photonics Acquisition
HAMAMATSU, Japan, May 8, 2023 — Hamamatsu Photonics said today it is considering further actions pertaining to a May 2 decision handed down by the Danish Business Authority blocking the company’s planned purchase of NKT Photonics through Hamamatsu’s Belgium-based subsidiary, Photonics Management Europe srl.
Hamamatsu announced in June 2022 that it planned to acquire NKT Photonics via the European subsidiary in a deal worth more than $215 million and make NKT Photonics a subsidiary following all necessary approvals and completion of the transaction.
Though Hamamatsu said it obtained the approvals for the acquisition from the relevant authorities in Germany, the U.K., and the U.S., it said it received a notice from the Danish Business Authority last week that the acquisition was not approved in accordance with the Danish Investment Screening Act.
NKT announced the Danish government’s decision May 2. NKT said it awaits Hamamatsu’s further actions in response to the decision and, separately, evaluates its options considering the decision.
Hamamatsu last year said that its complementary relationship with NKT’s business will support the company as it expands its laser application business. NKT specializes in fiber lasers and uses its photonic crystal fiber production to enable ultrashort pulse amplification and fiber transmission. NKT’s fiber laser portfolio supports applications in the microscopy, semiconductor, quantum computing, and ophthalmic fields, Hamamatsu said.
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