Coherent, Inc. to Acquire DeMaria ElectroOptics Systems, Inc.

Apr 03, 2001, 01:00 ET from Coherent, Inc.

    SANTA CLARA, Calif., April 3 /PRNewswire/ -- Coherent, Inc. (Nasdaq:   COHR)
 today announced that it has signed a definitive agreement to acquire DeMaria
 ElectroOptics Systems, Inc (DEOS) for $22.5 million in cash.  DEOS, located in
 Bloomfield, Connecticut, designs and manufactures carbon dioxide lasers used
 in electronics packaging, material processing and research applications.
 DEOS's sales for the year ending December 31, 2000 were approximately
 $13.2 million.  The transaction is scheduled to close mid-April, 2001, subject
 to customary closing conditions.
     "The acquisition of DEOS is compelling for several reasons, including the
 depth of their research and development, their intellectual property portfolio
 and their commitment to operational excellence," stated Bernard Couillaud,
 President and CEO of Coherent.  "In addition, the product lines are
 complementary to ours, and enable us to extend the roadmaps we have
 established with key customers and within strategic markets," Mr. Couillaud
 added.
     "DEOS's development as a commercial laser supplier has been impressive,"
 said John Ambroseo, Executive Vice-President of Coherent.  "They have
 successfully parlayed several development contracts, such as a space-borne
 laser local oscillator (scheduled for deployment in 2003) into robust OEM
 products within the past five years."
     According to Mr. Ambroseo, DEOS will be integrated into Coherent's
 Photonics Group and will continue to operate from its base in Connecticut.  He
 added that the founders, who have driven the technological and operational
 developments, have agreed to multi-year employment contracts with Coherent.
 
     "Safe Harbor" Statement Under the Private Securities Litigation Reform Act
     The statements in this press release that relate to future plans, events
 or performance, including statements regarding Coherent's or management's
 intentions, hopes, beliefs, expectations, representations, projections, plans
 or predictions of the future, are forward-looking statements within the
 meaning of the Private Securities Litigation Reform Act of 1995.  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 release publicly the result of any revisions to these forward-looking
 statements that may be made to reflect events or circumstances after the date
 hereof or to reflect the occurrence of unanticipated events. Readers are
 encouraged to refer to the risk disclosures described in the Company's reports
 filed with the SEC, including but not limited to the Form 10-K for the fiscal
 year ended September 30, 2000 and the Form 10-Q for the quarter ending
 December 30, 2000.
     Founded in 1966, Coherent, Inc. is a Standard & Poor's SmallCap 600
 company and a world leader in providing photonics based solutions to the
 commercial, scientific, medical, and telecom markets. Please direct any
 questions to Peter Schuman, Director of Investor Relations at 408-764-4174.
 For more information about Coherent, visit the Company's Web site at
 http://www.coherentinc.com .
 
 

SOURCE Coherent, Inc.
    SANTA CLARA, Calif., April 3 /PRNewswire/ -- Coherent, Inc. (Nasdaq:   COHR)
 today announced that it has signed a definitive agreement to acquire DeMaria
 ElectroOptics Systems, Inc (DEOS) for $22.5 million in cash.  DEOS, located in
 Bloomfield, Connecticut, designs and manufactures carbon dioxide lasers used
 in electronics packaging, material processing and research applications.
 DEOS's sales for the year ending December 31, 2000 were approximately
 $13.2 million.  The transaction is scheduled to close mid-April, 2001, subject
 to customary closing conditions.
     "The acquisition of DEOS is compelling for several reasons, including the
 depth of their research and development, their intellectual property portfolio
 and their commitment to operational excellence," stated Bernard Couillaud,
 President and CEO of Coherent.  "In addition, the product lines are
 complementary to ours, and enable us to extend the roadmaps we have
 established with key customers and within strategic markets," Mr. Couillaud
 added.
     "DEOS's development as a commercial laser supplier has been impressive,"
 said John Ambroseo, Executive Vice-President of Coherent.  "They have
 successfully parlayed several development contracts, such as a space-borne
 laser local oscillator (scheduled for deployment in 2003) into robust OEM
 products within the past five years."
     According to Mr. Ambroseo, DEOS will be integrated into Coherent's
 Photonics Group and will continue to operate from its base in Connecticut.  He
 added that the founders, who have driven the technological and operational
 developments, have agreed to multi-year employment contracts with Coherent.
 
     "Safe Harbor" Statement Under the Private Securities Litigation Reform Act
     The statements in this press release that relate to future plans, events
 or performance, including statements regarding Coherent's or management's
 intentions, hopes, beliefs, expectations, representations, projections, plans
 or predictions of the future, are forward-looking statements within the
 meaning of the Private Securities Litigation Reform Act of 1995.  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 release publicly the result of any revisions to these forward-looking
 statements that may be made to reflect events or circumstances after the date
 hereof or to reflect the occurrence of unanticipated events. Readers are
 encouraged to refer to the risk disclosures described in the Company's reports
 filed with the SEC, including but not limited to the Form 10-K for the fiscal
 year ended September 30, 2000 and the Form 10-Q for the quarter ending
 December 30, 2000.
     Founded in 1966, Coherent, Inc. is a Standard & Poor's SmallCap 600
 company and a world leader in providing photonics based solutions to the
 commercial, scientific, medical, and telecom markets. Please direct any
 questions to Peter Schuman, Director of Investor Relations at 408-764-4174.
 For more information about Coherent, visit the Company's Web site at
 http://www.coherentinc.com .
 
 SOURCE  Coherent, Inc.