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Bozeman, Montana’s ILX Lightwave to be acquired by Newport
Newport http://www.newport.com/ entered into a definitive agreement to acquire ILX Lightwave http://www.ilxlightwave.com/ . ILX, headquartered in Bozeman, Montana, expects 2011 revenues of approximately $8M.
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 $9.3M in cash, subject to adjustment based on ILX’s net assets at closing. The transaction is expected to close in January 2012.
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Bozeman-based ILX Lightwave Corporation announced today that it will be sold to a California company.
ILX, which was founded in 1986, will be sold to Newport Corporation, an Irvine, Calif.-based company that supplies advanced-technology products to customers in the scientific research, aerospace and defense, microelectronics and industrial manufacturing markets.
ILX’s founder Larry Johnson said in a news release that joining Newport will provide ILX with new opportunities to increase revenues and enhance its products.
Full Story: http://www.bozemandailychronicle.com/news/economy/article_6e01dab0-319b-11e1-8439-0019bb2963f4.html
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