Coherent Acquires Lumera Laser
SANTA CLARA, Calif., Dec. 20, 2012 /PRNewswire/ -- Coherent, Inc. (Santa Clara, CA, NASDAQ: COHR) today announced that it had acquired privately held Lumera Laser GmbH (Kaiserslautern, Germany) for approximately $52 million in an all cash transaction. Lumera is a recognized leader in ultrafast solid state lasers for microelectronics, materials processing and OEM medical applications. The transaction is valued at approximately 1.5 times Lumera's projected calendar year 2012 revenues.
"The acquisition of Lumera complements our internal programs and other recent acquisitions targeted at the rapidly expanding area of short-pulse micromaterials processing and non-refractive ophthalmic surgery," stated John Ambroseo, President and CEO of Coherent. "We will leverage our worldwide sales and service network and Lumera's application expertise to expand sales opportunities. Our ultimate goal is to provide customers with the broadest selection of ultrafast industrial solutions through the combined building block technologies from Coherent, Lumera, Innolight and MiDAZ," Ambroseo added.
FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements, as defined under the Federal securities laws. These forward-looking statements include the statements in this press release that relate to the role of Lumera, the ability of Coherent to expand its product, market growth, new product capabilities and applications expertise, the ability of Coherent to leverage its distribution network, the expansion of sales opportunities and benefits to customers of the Lumera acquisition. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement. Factors that could cause actual results to differ materially include risks and uncertainties, including, but not limited to, risks associated with macroeconomic conditions, our successful implementation and utilization of the assets acquired in the Lumera acquisition, our ability to successfully integrate Lumera into our operations, the ability of our customers to forecast their own end markets, expansion of sales opportunities, our ability to accurately forecast future periods, customer acceptance and adoption of our new product offerings, continued timely availability of products and materials from our suppliers, our ability to timely ship our products and our customers' ability to accept such shipments, our ability to have our customers qualify our product offerings and leveraging of our sales and service network, and other risks identified in the Company's SEC filings. Readers are encouraged to refer to the risk disclosures and critical accounting policies and estimates described in the Company's reports on Forms 10-K, 10-Q and 8-K, as applicable and as filed from time-to-time by the Company. Actual results, events and performance may differ materially from those presented herein. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update these forward-looking statements as a result of events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Founded in 1966, Coherent, Inc. is a world leader in providing photonics based solutions to the commercial and scientific research markets and part of the Standard & Poor's SmallCap 600 Index and the Russell 2000 Index. For more information about Coherent, visit the company's website at http://www.coherent.com/ for product and financial updates.
SOURCE Coherent, Inc.