OXFORD, Mass., May 23, 2017 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ:IPGP) today announced that it has acquired OptiGrate Corporation, a pioneer and leading manufacturer of the highest-quality chirped volume Bragg grating (VBG) technologies. OptiGrate VBG-based components enable dramatic performance improvement, miniaturization and cost reduction of ultrafast pulsed lasers for micro materials processing, medical and other applications. OptiGrate is a supplier to IPG, and as this relationship has deepened, the companies determined that there was a strong mutual benefit to joining together.
“As the technology leader in volume Bragg gratings and thermo-refractive glass, OptiGrate will help IPG develop new leading-edge solutions and improve our current products and components,” said Felix Stukalin, IPG’s Senior Vice President of North American Operations. “IPG is intensely focused on advancing the use of lasers around the world and the technology used in them. As such, the acquisition completes IPG’s internal set of core components for our revolutionary new ultrafast pulsed laser product lines that we are introducing to the market.”
OptiGrate was founded in 1999 by Dr. Leonid Glebov, Research Professor of Optics and Photonics at University of Central Florida, which licenses certain technology to OptiGrate. OptiGrate’s President and General Manager, Dr. Alexei Glebov, and CTO, Mr. Vadim Smirnov will continue to run the business. IPG anticipates that OptiGrate’s operational location will remain in Oviedo, FL, and that current employees will continue with the company, enabling further growth and innovation. IPG intends to support and honor all existing customer commitments while further expanding the market for OptiGrate’s products. Terms of the acquisition were not disclosed.
About IPG Photonics Corporation
IPG Photonics Corporation is the world leader in high-power fiber lasers and amplifiers. Founded in 1990, IPG pioneered the development and commercialization of optical fiber-based lasers for use in diverse applications, primarily materials processing. Fiber lasers have revolutionized the industry by delivering superior performance, reliability and usability at a lower total cost of ownership compared with conventional lasers, allowing end users to increase productivity and decrease operating costs. IPG has its headquarters in Oxford, Massachusetts, and has additional plants and offices throughout the world. For more information, please visit www.ipgphotonics.com.
James Hillier Vice President of Investor Relations IPG Photonics Corporation 508-373-1467 firstname.lastname@example.org
Source:IPG Photonics Corporation