Archive for the ‘Acquisitions’ category

Akoustis Signs Definitive Agreement to Acquire 120,000 Sq. Ft. Wafer Manufacturing Facility in Canandaigua, NY

March 24, 2017

STC MEMS, former Infotonics Center, most recently a division of SUNY POLY

Akoustis Technologies, Inc. (NASDAQ:AKTS), a manufacturer of patented single-crystal BulkONE® bulk acoustic wave (BAW) high-band RF filters for mobile and other wireless applications, announced today it has entered into  binding, definitive agreements to acquire assets from the Research Foundation for the State University of New York (RF-SUNY) and Fuller Road Management Corporation (FRMC), an affiliate of RF-SUNY.  The assets being acquired include STC-MEMS, a semiconductor wafer manufacturing operation and microelectromechanical systems (MEMS) business with associated wafer production tools, as well as real estate associated with the facility located in Canandaigua, New York, near Rochester.

Under the terms of the agreements, Akoustis will pay $2.75 million in cash at closing to RF-SUNY and FRMC, subject to certain adjustments and customary closing conditions.  The transaction is expected to be completed in the second quarter of calendar year 2017. As part of the signed definitive agreements, Akoustis plans to acquire all of the following:

  • 120,000 sq. ft. commercial wafer manufacturing facility located in Canandaigua, NY, which includes Class 100/Class 1000 cleanroom space (“NY Facility”).
  • 57-acres of real property associated with the NY Facility.
  • 150-mm silicon MEMS wafer fab operations, including all semiconductor manufacturing tools.
  • Existing silicon-based MEMS business with annual revenues of approximately $3M from multiple customers, including a tier-1 mobile wireless solutions OEM.
  • Trusted Foundry accreditation for MEMS processing, packaging and assembly.
  • Two existing tenants with multi-year leases.

Dr. Art Geiss, Co-Chairman of Akoustis, said, “Akoustis will merge its patented BulkOne® BAW RF filter process into the STC-MEMS foundry, an operating silicon-wafer-based MEMs manufacturer.  Since there is significant overlap between the tools and processes used to produce our BAW devices and silicon-based MEMS, transferring our process into the STC-MEMS foundry will accelerate the technology into production.  In addition, we believe that some of the foundry processes used in silicon-based MEMS manufacturing may be utilized in new ways to make further performance improvements in Akoustis’ single-crystal BAW RF filters.”

Jerry Neal, Co-Chairman of Akoustis, added, “This acquisition is an enormous win for Akoustis and is consistent with our capital-efficient business model. A comparable manufacturing facility to build and qualify for production would take up to 2-years and cost well over $50 million, not to mention the challenges of recruiting and training qualified personnel.”

The transaction allows Akoustis to internalize manufacturing providing substantial capacity and control of its wafer supply chain for single crystal BAW RF filters. Akoustis plans to utilize the NY Facility to consolidate all aspects of wafer manufacturing for its disruptive and patented high-band RF filters targeting the multi-billion mobile and other wireless markets. This planned consolidation of the Company’s supply chain into the NY Facility is expected to shorten time-to-market for its RF products, greatly enhancing the Company’s ability to service customers. Shorter time-to-market cycles provide the Company the opportunity to increase the number of customer engagements.

Empire State Development President, CEO & Commissioner Howard Zemsky said, “When combined with its skilled workforce, the Finger Lakes region’s burgeoning R&D and advanced manufacturing industry cluster create the perfect environment for innovative companies like Akoustis to grow and thrive. The addition of new research and manufacturing jobs in Canandaigua will diversify and strengthen the local economy and help to ensure the region continues moving in the right direction.”

Jeff Shealy, CEO of Akoustis, commented, “We look forward to welcoming the dedicated professionals at STC-MEMS into the Akoustis family, and thank Governor Cuomo and his entire organization for their tireless efforts attracting Akoustis to New York State.”

Akoustis plans to maintain the existing customer engagements which are transferred as part of the transaction.  The Company plans to maintain the existing Trusted Foundry accreditation for MEMS processing, packaging and module assembly and will seek to expand the accreditation for the NY facility to include BAW RF filters and sensors.

Concern regarding the Department of Defense Trusted Foundry in Canandaigua ran high in Rochester’s Optics, Photonics and Imaging Community since last year’s indictment of SUNY POLY, New York State, and construction officials by U.S. Attorney Preet Bharara for bid-rigging.

Private Equity Investments in Photonics – 2016 Highlights

February 24, 2017

logo_ceresPhotonics has been at the core of many modern day inventions and economic growth for decades now. However, the environment for photonics technology and component providers remains highly fragmented and fiercely competitive with their OEM customers and end-users further up the value chain realizing more of the value. Is that changing? It appears the public market leading photonics companies are catching up with their customers and capturing more value in 2016.

publicmarketleadersphotonicsvsoems

>>Read More Here<<

Navitar Purchases Canadian Camera Manufacturer PixeLINK®

January 31, 2017

 Acquisition Expands Navitar’s Integrated Imaging Solutions Business

Photonics West, January 31, 2017 — Navitar Canada, Inc. (Navitar), an innovative manufacturer of precision optical solutions, announced today the purchase of PixeLINK®, a leading developer of digital cameras for use in industrial, life science, and other advanced imaging applications.


Based in Ottawa, ON, Canada, PixeLINK manufactures, optimizes and integrates industrial cameras for machine vision applications and microscope cameras for life science and digital microscopy applications. Product offerings include CMOS and CCD sensors, coupled with state-of-the-art high speed digital technologies such as USB 3.0, FireWire (IEEE 1394), USB 2.0 and Gigabit Ethernet (GigE). PixeLINK’s latest camera models are equipped with the 12.3 MPixel Sony Pregius IMX253 (1.1”) and 8.9MPixel IMX255 (1”) sensors which support 4K Ultra HD video.

“The addition of the PixeLINK business enables us to provide our Navitar core dealers and OEM customers in machine vision and life science a large range of visible spectrum camera solutions,” explains Navitar President Michael Thomas. “Navitar recently added active alignment, assembly and testing of 4K OEM lens camera modules to our repertoire of services – combining Navitar large format, athermal, HDR lenses with Sony IMX CMOS sensors. Now our customers developing VR cameras, autonomous vehicles, drones and persistent surveillance systems will achieve unprecedented image quality with a Navitar lens, and they will benefit from decades of sensor integration expertise and industry-leading CMOS camera technology from PixeLINK.”

PixeLINK is recognized around the world for its quality hardware, imaging software and unmatched customer service. Their USB 3.0 high speed cameras provide superb image quality and have consistently been rated as the most reliable industrial cameras in the market. Paul Saunders, President of PixeLINK, comments, “We are excited to add our cameras to Navitar’s large selection of imaging products. Current and new customers will benefit greatly from our integrated solution offerings.”

Julian Goldstein and Jeremy Goldstein, owners of Navitar, comment, “We welcome the PixeLINK employees and customers to the Navitar network of companies and look forward to developing ground-breaking integrated camera and lens solutions optimized for the sharpest, cleanest images available in the industry.”

Navitar announced the acquisition of PixeLINK at SPIE Photonics West. In addition, the company is introducing a new high performance zoom lens series, the Resolv4K, with a live demonstration using a PixeLINK camera (IMX255 sensor).

Press contact:

Amy Block, Marketing Director, Navitar, Inc. | 585.359.4000 | amy.block@navitar.com

FluxData acquired by U.K. firm

January 18, 2017

FluxData Inc. has been acquired by Halma PLC, a United Kingdom-based safety, health and environmental safety group.

The deal is expected to nearly double the local workforce, company leaders said. FluxData employs 21 people and expects to add another 18 locally and two more in China as a result of the acquisition, FluxData president Pano Spiliotis said.

Halma, a leading safety, health and environmental technology group, announced the acquisition of FluxData from private shareholders.

FluxData, based in New York State, USA, designs and manufactures advanced multispectral and digital imaging systems across multiple sectors including industrial and medical applications.

The cash consideration is $12.0 million (£9.8 million) and is adjustable, US$ for US$, if the net assets are more or less than a pre-determined amount (the adjustment is not expected to be material). Further contingent consideration of up to $15.5 million (£12.6 million) may be payable based on performance to 31 March 2019. The acquisition, which is expected to be immediately earnings enhancing, was funded from Halma’s existing cash and debt facilities.

Unaudited accounts for the year ended 31 December 2016 reported revenue of $5.2 million (£4.2 million).

FluxData will become part of Halma’s Environmental & Analysis sector. Existing management will remain in place.

Andrew Williams, Halma’s Chief Executive, commented:

“FluxData’s strength in developing complete multispectral imaging (MSI) systems, including software and data analysis, builds on the MSI capabilities that already exist within our Environmental & Analysis sector. The value of this acquisition will come not only from enhancing FluxData’s ability to service existing customers but also from the opportunity to access new sectors and geographies through Halma’s strengths in safety, medical and environmental markets globally.”

>>Read more here<<

Navitar Enters Into Definitive Agreement to Acquire Hyperion Development

February 24, 2016

Rochester, New York – February 17, 2016Navitar, Inc, a leading USA-based manufacturer of precision optics and imaging system components, has signed a definitive agreement to acquire Hyperion Development, LLC, a leading design firm and manufacturer of custom optical assemblies and OEM solutions. The companies expect the deal to close by the end of the first quarter.

Navitar owners, Jeremy and Julian Goldstein comment, “We are very excited to welcome everyone at Hyperion Development into the Navitar family. This transaction brings together two industry leaders and creates an optical design powerhouse. We will be operating out of four engineering, design, and production facilities located in San Ramon, CA, Woburn, MA, Denville, NJ and Rochester, NY.” Navitar-Logo

Hyperion Development has a history of designing innovative next generation Deep Ultraviolet (DUV) and Extreme Ultraviolet (EUV) semiconductor lithography systems. Their optical solutions range from ultra-precision microscope objectives, high volume electronic imaging lenses, cine prime lenses, mobile medical solutions, and infrared (IR) solutions for aerospace, defense, and photonics applications.

Hyperion Development expanded in 2014 with the acquisition of AMF Optics and American Diamond Turning, LLC. The newly consolidated company, AMF Optics, LLC, is located in Woburn, MA. This state of the art, ITAR registered, ISO 9000 certified facility, will continue to provide high quality traditional diamond turned optical components and infrared lens assemblies. All personnel at each company will be maintained and current facilities will remain in place.

Michael Thomas, co-founder of Hyperion, sees this merger as an opportunity to expand Hyperion’s production capabilities thus moving their client’s products to market faster. According to Hyperion co-founder Russ Hudyma, “Navitar’s international presence and vertical integration will enable the team to reach more customers, speed up the design and prototyping process, and ensure our best in class solutions reach our customers on time and on budget.”

Jeremy Goldstein added, “The combined capabilities of Navitar and Hyperion Development just don’t exist at other optical firms around the world. Our unique abilities will continue to help our customers maintain their competitive position and help to strengthen their market leadership.”

The acquisition of Hyperion Development was a natural fit with Navitar’s long-term strategy of providing more diverse optical solutions, specifically within the UV and IR spectrum, to both current and new customers. The acquisition brings together two industry leaders with sales in over 45 countries around the world.

About Hyperion Development, LLC

Hyperion Development has proven optical solutions across the full spectrum and an extensive patent portfolio as a testimony to its world leading designs. A core competency of Hyperion is the development of Deep Ultraviolet (DUV) and Extreme Ultraviolet (EUV) imaging systems for lithographic printing and semiconductor process metrology. Founders Russ Hudyma and Michael Thomas are graduates of the Institute of Optics at the University of Rochester and have been involved in the design and production of complex optical systems for over 20 years.  For more information about Hyperion Development visit their website at www.hyperion-development.com

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Ithaca’s BinOptics Acquired by MACOM

November 18, 2014

M/A-COM Technology Solutions Holdings, Inc. (Nasdaq:MTSI) (MACOM), a leading supplier of high performance RF, microwave, and millimeter wave products, announced it has entered into a definitive agreement to acquire BinOptics Corporation, a leading merchant provider of Indium Phosphide lasers for Data Centers, Mobile Backhaul, Silicon Photonics and Access Networks, in an all-cash transaction valued at $230 million, subject to customary post-closing adjustments.

http://binoptics.tumblr.com/post/103041602913/macom-announces-definitive-agreement-to-acquire#l

http://www.syracuse.com/news/index.ssf/2014/12/ithaca_laser_technology_firm_binoptics_sold_to_massachusetts_company_for_230_mil.html#incart_river

Thorlabs Acquires Corning QCL and Partners with Daylight Solutions

October 30, 2014

Component and system provider Thorlabs has continued its expansion up the photonics value chain with the acquisition of Corning’s optoelectronics research group – including significant expertise in quantum cascade laser (QCL) development.

And the company has immediately followed that up with a strategic partnership involving Daylight Solutions, the San Diego firm that has developed QCL-based products for infrared countermeasures and medical screening applications.Thorlabs1797C

The Corning QCL operation, with which Daylight has already enjoyed a long-term collaboration, and related assets including intellectual property will now be transferred to Thorlabs’ semiconductor fabrication facility in Maryland.

Read More At Optics.org