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FARO Completes Divestment Of Dental, Photonics Businesses

FARO Completes Divestment of Dental, Photonics Businesses

FARO Technologies Inc. has completed the divestiture of two recent business lines. On June 10, FARO divested its Italy-based dental business to Open Tech 3D Srl. The FARO dental business primarily developed structured light products for the dental industry. While FARO will no longer serve the dental market, the company will retain an Italian development team who will continue to develop structured light and other technologies for its core target 3D markets

On April 30, FARO divested its US-based photonics business to MECCO. FARO Photonics designed and manufactured high-precision laser scan heads, Ethernet-based vector controllers, and advanced processing software to provide an integrated steering solution for a range of advanced laser applications.

READ: FARO Sees Bright Prospects in Automotive Manufacturing Industry

“As we announced in February, FARO has embarked on a new strategic plan that includes increased focus on our targeted 3D markets,” said Michael Burger, President and CEO. “I’m pleased to have completed these divestitures to partners who will continue to provide leading technology to our customers in these adjacent markets. These divestitures allow us to align our resources on providing 3D solutions to the Metrology, AEC, and Public Safety Analytics markets.”

While financial terms of the divestitures were not disclosed, the two product lines contributed approximately 2% of FARO’s revenue in 2019.

 

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TRUMPF Completes Acquisition Of Philips Photonics

TRUMPF Completes Acquisition Of Philips Photonics

High-tech company TRUMPF has completed the acquisition of the photonics business from Philips. The acquisition will establish a new business division called TRUMPF Photonic Components, which is headed up by Lutz Aschke and Joseph Pankert. Lutz Aschke has been CFO of Laser Technology at the TRUMPF Group since 2016, while Joseph Pankert has been General Manager of Philips Photonics since 2009.

Through the acquisition, TRUMPF will gain access to a new market segment that will complement its existing high-power diode laser business. Philips Photonics’ laser diodes are used in smartphones, in digital data transfer applications and in sensors for autonomous driving.

Founded in 2000, Photonics GmbH has around 280 employees and is headquartered in Ulm, where it manufactures laser diodes in a dedicated production plant. Now, it is set to continue growing as part of TRUMPF, an innovative high-tech company with strong product development expertise.

In the fiscal year 2017/18, TRUMPF invested almost 340 million euros in research and development and posted a ratio of R&D expenditure to sales of 9.5 percent.

With the VCSEL (vertical-cavity surface-emitting laser) laser diode, the light is emitted perpendicular to the plane of the semiconductor chip, in contrast to the edge-emitting laser diode, where the light exits at one or two edges of the chip. VCSEL diodes are inexpensive to manufacture.

 

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Trumpf Acquires Laser Diode Division Of Philips

Trumpf Acquires Laser Diode Division of Philips

Trumpf has set out to acquire 100 percent of Photonics GmbH from Philips. This opens up a new market segment for Trumpf in addition to its existing business with high-power diode lasers and expands its product portfolio. Furthermore, through this acquisition, Trumpf can expand its access to fast-growing markets in the photonics and digital products sectors.

“With this acquisition, we want to open up new product fields and expand our existing portfolio at a strategically important point,” said Nicola Leibinger-Kammüller, President and Chairwoman of Trumpf. While Lars Grünert, member of the Group Management Board, responsible for the new Trumpf product field and Chief Financial Officer, added that, “Philips Photonics employs a large number of very good developers who have opened up new areas of photonics and who will strengthen our research and development area in the long term. Together we want to further develop the Photonics division.”

In the past fiscal year 2017/18, Trumpf has invested almost 340 million euros in research and development. This corresponds to a development ratio of 9.5 percent.

Regarding the impending acquisition, Joseph Pankert, Business Leader of Philips Photonics has stated that, “[Photonicsis ] very excited to become part of Trumpf. This will ensure that the division can continue to grow in a highly innovative company in the future.”

Currently, both companies have agreed not to disclose the purchase price and the transaction is expected to be completed in the second quarter of 2019 as the authorities still have to approve the acquisition.

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