Newport to pay $9.3M for ILX Lightwave
IRVINE, Calif.—Newport Corp., which makes lasers and instruments for science, technology and aerospace companies, said Wednesday that it will buy privately held ILX Lightwave Corp. for about $9.3 million in cash and expects its earnings to get a boost from the purchase as soon as it closes.
ILX, which is based in Bozeman, Mont., makes test and measurement tools for laser diodes and other types of photonic parts. Newport said ILX expects 2011 revenue of $8 million.
Newport expects the deal to close in January, and it plans to add ILX to its photonics and precision technologies unit.