California-based Coherent Inc., a provider of lasers and laser-based products, today announced it will acquire Rofin-Sinar Technologies, a global developer of industrial laser sources with its headquarters in Plymouth Township and Germany, for $942 million. The transaction is expected to close by the end of the year.
“Together, we will significantly increase the value we can bring to our customers by creating a better-positioned, highly diversified company with a greater breadth of product offerings and innovation and a comprehensive technology portfolio,” says Thomas Merk, president and CEO of Germany-based Rofin-Sinar.
Merk says Rofin-Sinar, founded in 1975, designs and develops laser products and systems for the manufacturing industry, with targeted application areas including high speed, precision material cutting, welding, and surface treatment. The company, which has more than 2,200 employees, serves industries including automotive, automotive suppliers, medical components, and electro-mechanical, among others.
“The combination of Coherent and Rofin represents a unique opportunity to strengthen Coherent's position in materials processing,” says John Ambroseo, president and CEO of Santa Clara-based Coherent. “Both Coherent's and Rofin's customers participate in today's most demanding markets and together we will be well-positioned to better meet their evolving needs.”
Coherent, founded in 1966, provides lasers and laser-based technology for scientific, commercial, and industrial customers. The company has operations in France, Italy, Japan, and Korea, among other countries.
“Together, we can accelerate the growth of the Rofin portfolio based on our proven track record of successfully investing in, integrating, and working alongside the businesses we have acquired,” Ambroseo says. “Given our shared cultures and focus on customers and innovation, we expect a smooth transition.”