Palomar acquires Fiber Automation Division of Axsys Technologies

November 6, 2002--Palomar Technologies, manufacturer of automated high-precision assembly systems, today announced that it has acquired the Fiber Automation Division (FAD) of Axsys Technologies.

Nov 6th, 2002

Palomar Technologies, manufacturer of automated high-precision assembly systems, today announced that it has acquired the Fiber Automation Division (FAD) of Axsys Technologies. The new organization, Palomar Photonics Automation, will continue engineering and manufacturing operations in its Pittsburgh facility as a wholly owned subsidiary of Palomar Technologies. Patents and intellectual property relating to nano-positioning and fiber alignment were included in the purchase. Terms of the acquisition were not disclosed.

With this strategic and complementary acquisition, Palomar Technologies adds the critical competencies of nano-positioning and optical align and attach to the company's existing microelectronic and optoelectronic interconnect capabilities, explain company representatives.

In March 2002, Palomar Technologies and Axsys' FAD joined with two other companies in a strategic marketing alliance. Since then, they have been working closely to provide photonic component manufacturers with a single-source for precision assembly, test, and alignment systems. The new Palomar Photonics Automation team will focus on providing photonic automation tools and process development solutions built upon its precision optical alignment engine.

"Our strategic alliance with Axsys' FAD gave us first-hand validation from our customers of the power of this technology and the team that created it," contends Kevin Conlon, president of Palomar Technologies. "We now offer a full suite of photonic manufacturing solutions second to none for our customers' most difficult manufacturing processes."

Under the terms of the acquisition, substantially all former Axsys' FAD employees are being retained by Palomar Technologies. Worldwide marketing, sales, and service will be handled out of Palomar's corporate offices headquartered in Vista, CA.

For more information about Palomar Technologies (Vista, CA), visit the company's Web site at www.palomartechnologies.com.

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