Santa Clara-Based Coherent to Acquire Excel Technology for $376 Million

Santa Clara, Calif. -- Coherent, a Santa Clara-based provider of photonics technologies for the commercial and scientific research markets, said that it will pay $376 million in cash to acquire Excel Technology, a New York-based maker of laser systems and electro-optical components. "Over the last several months, we have been highlighting the long-term growth potential of the materials processing market as well as the need for consolidation in the photonics industry," said John Ambroseo, the president and CEO of Coherent. "The acquisition of Excel Technology addresses both points." The deal is expected to close by midyear.
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