Coherent Inc., maker of lasers and laser-based technology for scientific, commercial and industrial customers, and Rofin Sinar Technologies Inc., developer and manufacturer of high-performance industrial laser sources and laser-based technology and components, today announced that their boards of directors have unanimously approved a definitive agreement under which Coherent will acquire Rofin for $32.50 per share in cash, in a transaction valued at approximately $942 million. Coherent President and CEO John Ambroseo cited the company’s opportunity to strengthen its materials processing capabilities through the acquisition. The transaction is expected to be accretive to earnings per share in the first full year following the close. Coherent expects to realize approximately $30 million in annualized run rate synergies within 18 to 24 months post-closing, achieved through increased efficiencies, leveraging the scale of the combined businesses and optimizing the combined R&D portfolio. Additional synergies are expected through accelerated growth from combining the best capabilities from both companies with a presence in over 60 global markets. Coherent intends to finance the transaction through a combination of cash on hand and fully committed debt financing from Barclays. The transaction is expected to close within six to nine months, subject to approval by Rofin stockholders, regulatory approvals in the U.S. and other countries, as well as other customary closing conditions.