Materion Corp. announced this week it has entered into a definitive agreement to acquire Optics Balzers AG in an all-cash transaction. The acquisition will allow the company to implement global expansion strategies more quickly, according to Detlev Haeusler, CEO of Optics Balzers. Optics Balzers generates total revenue of about $67 million per year. According to a press release, shareholders decided to sell Optics Balzers to Materion to follow the company’s growth strategy. Materion is a leading supplier of precision coatings and advanced materials. In 2019, Materion generated total sales of around $1.2 billion. The company will take over 100% of Optics Balzers’ shares.