Newport Corporation to Acquire High Q Technologies; Terms Not Disclosed

Newport Corporation NEWP today reported it has entered into an agreement to acquire High Q Technologies GmbH. Terms of the transaction, which is anticipated to close before the end of the third quarter, were not disclosed. High Q, headquartered in Rankweil, Austria, expects 2011 revenues of approximately $20 million, with three-fourths of its sales to customers in Europe. The company is profitable, and Newport expects the acquisition to be accretive to its earnings immediately after closing.