Newport Corporation Enters Into Agreement to Acquire ILX Lightwave Corporation for $9.3M

Newport Corporation

today reported that it has entered into a definitive agreement to acquire ILX Lightwave Corporation, a market and technology leader in high-performance test and measurement solutions for laser diodes and other photonics components. ILX, headquartered in Bozeman, Montana, expects 2011 revenues of approximately $8 million. The company is profitable, and Newport expects the acquisition to be accretive to its earnings immediately after closing. The consideration to be paid by Newport in the transaction is $9.3 million in cash, subject to adjustment based on ILX's net assets at closing. The transaction is expected to close in January 2012.