Coherent, Inc. Acquires Beam Dynamics
This acquisition allows us to further expand our presence in the materials processing market, achieve closer alignment with customer processes and applications, and more effectively drive development of new sources and tools to meet the needs of the laser machining market. When combined with Coherent's recent introduction of an extremely compact kW CO2 laser, Coherent can take a more active position in the development of high precision, kW level cutting tools in a small footprint. We see this combination as a catalyst to expanding the use of lasers in a host of applications that cannot justify the capital outlay or the physical infrastructure needed of tools significantly larger.
"We are very pleased to have Matthew Bye and the Beam Dynamics team join Coherent," said Paul Sechrist, Senior Vice President at Coherent. "They have done an excellent job at creating a strong brand through their commitment to performance, quality and service. Coherent is committed to ensuring that the integration is seamless and transparent to our customers. As a standalone business unit within Coherent, Beam Dynamics will retain its nimble organizational structure, while continuing to drive innovation and exceed our customers' expectations."
Beam Dynamics has been a long time Coherent customer, integrating Coherent Diamond CO2 lasers from 150W to 500W, and now 1kW, into its machine tools. Coherent looks forward to formally integrating the two companies and strengthening its position as a leader in the low to midpower materials processing space.
Founded in 1966, Coherent, Inc. is a Russell 2000 Index company and a world leader in providing laserbased solutions to the commercial and scientific research markets. Please direct any questions to Paul Sechrist, Senior Vice President at Coherent, at (408) 764-4580, email Paul.firstname.lastname@example.org. For more information about Coherent, including product and financial updates, visit our website at http://www.Coherent.com.
Forward Looking Statement
This press release contains forwardlooking statements, as defined under the Federal securities laws. These forwardlooking statements include statements in this press release that relate to the acquisition of Beam Dynamics, new opportunities created in the laser machining industry, and the ability to exceed our customers' expectations. These forwardlooking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forwardlooking statement. Factors that could cause actual results to differ materially include risks and uncertainties, including, but not limited to, risks associated with the timely development of equipment, and other risks identified in the Company's SEC filings. Readers are encouraged to refer to the risk disclosures described in the Company's reports on Forms 10-K, 10-Q and 8-K, as applicable and as filed from timetotime by the Company. Actual results, events and performance may differ materially from those presented herein. Readers are cautioned not to place undue reliance on these forwardlooking statements, which speak only as of the date hereof. The Company undertakes no obligation to update these forwardlooking statements as a result of events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.