API Nanotronics acquires NanoOpto Corp.

JULY 23, 2007 -- API Nanotronics Corp. (search for API Nanotronics), a supplier of electronic components to the defense and communications sectors, reports it has acquired all of the assets of NanoOpto Corp., a nanotechnology company specialized in processes for next-generation optical components.

The transaction includes all of NanoOpto's intellectual property related to the design and high-volume nano-fabrication of nano-optic devices for optical components as well as equipment at its ISO 9001:2000 registered nano-fabrication facility in Somerset, NJ. The facility is fully operational and capable of significant volume production of nanotechnology derived optical and electronic components, says API. In 2006, NanoOpto Corp.'s proprietary technologies and processes were recognized by Lux Research, a nanotechnology research firm, as the #1 Nanotechnology Company for partnership value. The company is also one of the first nanotechnology companies to successfully commercialize products in collaboration with technology companies like Sumitomo Metal Mining and raised venture funding in excess of $50 million from several technology investors.

Dr. Martin Moskovits, CTO of API, stated, "The NanoOpto nanofabrication facilities will provide API with truly unique and powerful materials processing and fabrication capabilities. These capabilities span the full gamut of silicon wafer processing to the very latest electronic and optical fabrication technologies based in nanoscience and MEMS. This will not only expand API's abilities to better serve its current customers and develop new electronic products but also open up possibilities for new business based on hybrid optics. These assets and facilities will also be the centerpiece of API's research and development program."

Phillip DeZwirek, chairman and CEO of API, stated, "This acquisition gives us the tools to accomplish the goals we have set for the company. We have the people, we have the customers, and we now have the technology and facilities to deliver next-generation nanotechnology products. This puts us ahead of schedule in terms of capabilities we hoped to offer our customers. There is tremendous opportunity for API across its markets. These assets solidify the company's position in electronics and nanotechnology."

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