Coherent to buy Rofin-Sinar for $942 million
US laser firm Coherent will acquire the materials processing laser specialist Rofin-Sinar Technologies for $32.50 per share in cash, in a transaction valued at approximately $942 million.
Rofin, which has headquarters in US and Germany, has a wide range of laser technologies including diode lasers, solid-state lasers, fibre lasers, as well as an pulsed laser products and CO2 lasers.
"This transaction is aligned with our strategy of increasing our scale and pursuing accretive growth opportunities," said John Ambroseo, Coherent's president and CEO. "The combination of Coherent and Rofin represents a unique opportunity to strengthen Coherent's position in materials processing. The addition of Rofin's complementary portfolio will build on Coherent's capabilities as a world leader in laser and photonics-based technology and solutions and create meaningful value for our stockholders."
"We are delighted to announce this combination, which will deliver significant and immediate value for Rofin stockholders," said Peter Wirth, chairman of Rofin's board. "It grows out of the successful technological and strategic transformation that Rofin has been undergoing under the leadership of the board and management team and the hard work of Rofin's many talented professionals to execute our strategic plan."
The transaction is expected to close within six to nine months, subject to approval by Rofin stockholders, regulatory approvals in the US and other countries as well as other customary closing conditions.