Powerlase Ltd is acquired by EO Technics Co., Ltd
- EO Technics Acquires Powerlase Ltd
London, UK / Seoul, Korea – September 10, 2009 – EO Technics Co., Ltd. (KOSDAQ: A039030), one of the world’s leading developers and manufacturers of laser-based equipments in the fields of semiconductor, microelectronics, PCB, FPD, PV and general industries, today announced that it has acquired the Powerlase Ltd laser business and assets.
Powerlase Ltd, based in Crawley, West Sussex, United Kingdom, is an award winning developer of high powered, nanosecond, Q-switched diode-pumped solid-state lasers with established customers in the PV, LCD, PDP, EUV, semiconductor, microelectronics, and micro-machining markets.
As part of the acquisition EO Technics has established a new wholly owned subsidiary company, named Powerlase Photonics Ltd, to take over the business. Powerlase Photonics Ltd will be based in Crawley and inherits all of the business activities (excluding liabilities), assets, employees, and outstanding orders, from Powerlase Ltd.
The new company will retain the Powerlase & Starlase brand names as part of the agreement and will operate the business independently from the parent company. Members of the current Powerlase Ltd management team will transfer to Powerlase Photonics Ltd to run the business.
Company comments
“Powerlase Photonics is excited to be a part of EO Technics, a worldwide leader in laser based technology," commented Les Lockwood CEO of Powerlase Ltd. “Being part of EO Technics gives Powerlase Photonics the financial stability to continually provide new and existing customers with innovative, highly reliable Starlase products together with the outstanding customer support already associated with the Powerlase name.”
“We are very pleased to add Powerlase to EO Technics, as we have found a reliable partner with expertise in the manufacture of high powered laser technology. Through this acquisition, Powerlase fits perfectly within the EO Technics group of companies. We are confident that the talent and skills of Powerlase's employees will further strengthen our position in global market.” commented Kyu-Dong Sung, CEO and President of EO Technics.
About EO Technics
For more than 20 years, EO Technics has been an international market and technology leader in the development and manufacture of laser marking and microelectronics solutions.
For further information
Additional information is available on EO Technics’ home page: http://www.eotechnics.com
Contact: JR Choi +82 31 420 2790