EOTECH, an optical technology company based in Ann Arbor, has acquired the photonics business of Intevac Inc. of Santa Clara, Calif., for $100 million.
The transaction, structured as an asset sale, closed on Dec. 30, 2021 and consists of an up-front cash payment of $70 million and future earn-out payments of up to $30 million.
EOTECH designs, manufactures, and markets the original Holographic Weapon Sight (HWS), and designs and distributes Vudu rifle optics, thermal and night vision systems, and laser devices.
Intevac’s Photonics business is recognized as a leading developer and provider of advanced high-sensitivity digital sensors, cameras, and systems that primarily serve the defense industry, and has provided integrated imaging systems for most U.S. military digital night vision programs, including the U.S. Army’s Integrated Visual Augmentation System (IVAS).
“Over the past 30 years, Intevac Photonics has built an impressive portfolio of digital night vision technologies that set the standard for advanced military avionics platforms,” says Matt Van Haaren, CEO of EOTECH. “We are excited to continue to build this business as it develops the next generation of digital night vision for the dismounted soldier.”
Wendell Blonigan, president and CEO of Intevac, says, “Intevac Photonics, as envisioned by our late founder Norman Pond, pioneered the night vision technologies that have become the standard for most advanced digital night vision programs for the U.S. military, as well as many foreign nations.”
For more information, visit www.eotechinc.com.