: Lightpath Technologies Inc.
Orlando tech company acquires New York-based company that focuses on infrared optics.
Stock for Orlando-based Lightpath Technologies Inc. rose on Monday after the company announced it was buying New York-based ISP Optics Corporation for $18 million.
Lightpath (NASDAQ: LPTH) makes optical instruments and lenses for use in medical, firefighting, communications, defense and space industries, among other things.
Products include laser levels and barcode scanners.
At one point the stock was trading up by 10 percent Monday morning; the stock ended Monday up 3.2 percent at $1.91. Over the past 12 months, Lightpath has traded between $1.30 and $3.79.
As part of the deal, $12 million will be payable in cash with the balance in the form of a note issued to the sellers.
ISP, which has manufacturing in Latvia, specializes in infrared optical components. Lightpath has operations in China.
LightPath plans to finance the cash portion of the purchase price through a combination of the offering and issuance of LightPath's common stock and debt financing.
The acquisition will make Lightpath a bigger presence in optics, a field where Orlando has established a niche due partly to University of Central Florida's photonics program.
The region is also getting a boost in optics and photonics from the arrival of the Florida Advanced Manufacturing Research Center, which is under construction near Kissimmee.
At the center, research will be done on emerging photonics technology, particularly on sensors.
With ISP, LightPath broadens its global customer base in Europe -- "significantly" according to a news release.
Lightpath is based near UCF, at 2603 Challenger Technology Court, also by the Central Florida Research Park.
See press release
of St. Petersburg, a supplier of wafer process solutions for specialty semiconductor and nanotechnology markets,
has signed a global agreement with DISCO corp., the world's largest dicing equipment provider, to distribute and service Plasma-Therm’s
Singulator® plasma-dicing systems. “DISCO is keenly aware that plasma dicing is a key enabling technology for advanced packaging, and now
we can provide complete Kiru, Kezuru, Migaku (dicing, grinding, polishing) solutions to customers,” said DISCO executive Noboru Yoshinaga.
“After a careful evaluation, DISCO determined that PlasmaTherm's technology is the solution of choice, due to its cost of ownership and performance,” he said.
Plasma-Therm has been granted multiple patents for its plasma-dicing-on-tape inventions. Customers in Europe, Asia, and the United States using Singulator®
systems in production have reported up to 30 percent higher die yield per wafer. Plasma-Therm also recently acquired Nano Etch Systems Inc. of California,
whose Pinnacle™ IBE and IBD systems deliver best-in-class etch and deposition performance. In addition to complete systems, NES also produces source and
grid upgrades to cost effectively improve performance of other manufacturers’ ion-beam systems.
IRradiance Glass, Inc.
(IRG) is a manufacturing, research and product development company, specifically focused on the compositional
design and hot forming of chalcogenide glasses. IRG manufactures chalcogenide glasses for applications in infrared optical components
and optical systems. IRG specializes in compositional design and process development for novel infrared glass and glass ceramic materials.
: Plasmonics is the first in house incubator client to become an affiliate.
was presented the industrial affiliates plaque by Dr. Saleh.
Plasmonics, Inc. is focused on the development of next-generation infrared sensors and metamaterial surfaces.
In addition to new product line growth, they offer a range of custom built IR and THz filters and broadband
waveplates, small volume rapid prototyping, and electromagnetic design and consultation.
Plasmonics, Inc. is a spin-off of
Dr. Glenn Boreman's
Infrared Systems Lab.
More information at http://www.plasmonics-inc.com/
From the Industry Spotlight section of Inside Florida's High Tech Corridor:
"Innovations and new discoveries in the
Florida High Tech Corridor
optics and photonics industry continue to emerge despite economic constraints, thanks to active research and development
(R&D). To keep R&D efforts alive, many companies adopt a system of "open innovation" through which their own processes of
invention can be combined with thoughts and direction from external industry leaders. This collaboration of R&D, coined
by University of California, Berkeley Professor Henry Chesbrough, is an innovation in itself, and one that is driving a
new Orlando company,
At the helm of this new venture is
Dr. Jason Eichenholz
an industry leader and graduate ofthe University of Central Florida's CREOL - College of Optics and Photonics. Open Photonics
Inc. (OPI) aims to accelerate the commercialization of photonics technologies by forming connections between industry leaders
and existing infrastructures. Photonic Horizons is OPI's signature grant program that involves peer review to facilitate
the process, and is a perfect example of open innovation's success. Another measure is the company's extensive advisory
board, which includes Chesbrough and leaders from industry, SPIE - the international society for optics and photonics and
other academic institutions."
received the 2012
Small Manufacturer of the Year award from the Manufacturers Association of Central Florida (MACF
) at its Annual President's
Dinner on November 1. "This award is a significant milestone for us," says Dr. Alexei Glebov, OptiGrate's CEO and President.
"OptiGrate being recognized as a small manufacturer of the year clearly shows that we succeeded in transitioning advanced
university research into commercial products that we manufacture now at our own new production plant in Oviedo, FL, and
deliver to hundreds of customers all over the globe". Today, OptiGrate is a company with 30 employees that more than doubled
in the last 3 years. OptiGrate spun out from the College of Optics at the University of Central Florida (UCF/CREOL) in 1999.
"OptiGrate demonstrates a good example of efficient synergy between academic research, government funding, and commercial
success", adds Alexei Glebov.
October 10, 2012
recently enhanced its portfolio of optical fiber processing solutions with additional
high-performance, filament fusion-based products. The company's GPX-2400 glass processor is tailored for research
while the CAS-4000 Series of splicers is designed for high-volume, automated production.
August 20, 2012
is awarded the William C. Schwartz Industry Innovation Award. Each year, the EDC recognizes local companies who have had
a significant impact on the region and in their respective fields for innovative practices, products and/or ideas with the
William C. Schwartz Industry Innovation Award.
Central Florida Research Park-based Lightpath Technologies pioneered the development of precision glass molded chalcogenide
lens, which has a significant cost advantage to previous technologies while providing higher quality optics and superior
performance. The glass molded lenses can be used in numerous infrared optics applications such as thermal imaging, security
and surveillance, target tracking and identification and automotive vision enhancement. They are an industrial affiliate
of the University of Central Florida and an active member of the Florida Photonics Cluster.
April 9, 2012
Optimax Execs Honored with 2012 New York State Small Business Person of the Year Award