Newport Corp. (Nasdaq:NEWP) announced that it has acquired Design Technology Corp., a privately held systems integrator specializing in the use of robotics and flexible automation solutions for manufacturing processes, including those required in the assembly and testing of fiber optic components.
The transaction will be accounted for as a stock purchase, and terms were not disclosed. Design Technology is expected to add $5 million to $10 million to Newport's 2001 sales and to be mildly accretive to earnings per share.
Design Technology, based in Billerica, Mass., brings three decades of experience in the development of specialized machinery and automation systems for high-volume production applications in a wide variety of industries. The firm's expertise includes process development, handling solutions for difficult materials, and high-volume precision robotic assembly systems.
Marvin Menzin, president of Design Technology, said, "We are extremely excited to become part of the growing Newport team addressing these very challenging automation applications in the fiber optics industry. Our well-established Controlled Development process, which methodically generates and validates multiple solution concepts for each project, will enable Newport customers to explore various alternatives to their automation needs before spending significantly on automation equipment. This approach substantially reduces the risk associated with introducing automation into new or unproven process areas and assures a successful outcome."
Newport Corp. designs, manufactures and markets high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, computer peripherals and scientific research markets. The company's products are designed to enhance productivity and capabilities of test and measurement and automated assembly for precision manufacturing, engineering and research applications. For more information, visit www.newport.com.