SEPTEMBER 14, 2008 -- Technology conglomerate Halma has acquired Fiberguide Industries (Stirling, NJ), maker of complex optical fiber cables and assemblies, predominantly custom designed for OEMs in medical/biomedical, spectroscopic, and analytical instrument applications. Fiberguide will join Halma's Photonics business within its Health and Analysis sector (Boonton, NJ).
"Fiberguide deepens our presence within the growing photonics market and strengthens our existing fiber optic assembly activities. There are excellent opportunities for Fiberguide to develop strongly within Halma -- particularly through technical collaboration and growth in international markets which currently represent less than 5 percent of Fiberguide's revenues," said Halma CEO Andrew Williams.
Other companies in Halma's Health Optics and Photonics group include Ocean Optics (Dunedin, FL), a manufacturer of miniature fiber optic spectrometers; and Labsphere (North Sutton, NH), a maker of light testing and measurement products and specialized optical coatings.
Halma said the acquisition, which involved an initial payment of $14.5 million in cash, was funded from its existing cash and debt facilities. If Fiberguide meets certain performance targets between Oct. 3, 2009, and Oct. 2, 2010, Halma could pay up as much as $10 million more for the acquisition.
Halma Health and Analysis