Newport Corp. Acquires International Metrology
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Newport Corp., Irvine maker of fiber-optics components, said Monday it agreed to acquire International Metrology Systems, a United Kingdom-based global supplier of measurement systems and advanced metrology solutions. Terms of the acquisition were not disclosed.
Newport’s stock, which has surged nearly sevenfold this year, hit a 52-week high of $107 Monday before closing at $105.38, up $10.88, in Nasdaq trading.
The transaction should close in August, the company said.
International Metrology Systems had 1999 sales of $17 million. Newport had fiscal 1999 income of about $8.3 million on sales of about $141.9 million.
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