In Germany, IOTech Ingenieurgesellschaft Optische Technologien mbH of Waghäusel has taken over German Pyramid Optics GmbH of Lederhose to strengthen its operations in the field of fiber and micro-optical components and to extend its portfolio to include optical switches. IOTech shares were used in the transaction to compensate former parent company Physik Instrumente (PI) GmbH & Co. KG of Karlsruhe.