(Catalog Age) Newport Corp., an Irvine, CA-based manufacturer/marketer of robotics and automation systems, has agreed to buy Spectra-Physics, the optical technology unit of Waltham, MA-based Thermo Electron Corp., for $300 million. Newport, a $134.8 million company, says the acquisition will propel its sales to about $400 million. With Thermo Electron, Newport will have more than 2,000 employees and
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(Catalog Age) Newport Corp., an Irvine, CA-based manufacturer/marketer of robotics and automation systems, has agreed to buy Spectra-Physics, the optical technology unit of Waltham, MA-based Thermo Electron Corp., for $300 million.
Newport, a $134.8 million company, says the acquisition will propel its sales to about $400 million. With Thermo Electron, Newport will have more than 2,000 employees and 15 manufacturing plants in five countries.
Newport chairman/CEO Robert Deuster said in a statement that the two businesses have some of the same customers but minimal product overlap. With Thermo Electron, the Newport catalog will increase from 10,000 SKUs to about 15,000.
