Dynasil Corporation of America (DYSL.OB), a photonics company headquartered in New Jersey, announced that the company has signed a Letter of Intent to acquire a privately-owned advanced instrumentation company.
Currently, Dynasil is an $11 million manufacturer of photonics products that include optical materials, components, coatings and specialized sub-systems. The company has several offices in New Jersey, Massachusetts and Upstate New York that manufacture optical components for a broad range of applications that include display systems, optical instruments, satellite communications and lighting.
The company to be acquired develops and manufactures instruments with high growth potential. These instruments are often sold into the medical, environmental sensing and quality assurance markets. This company also has a significant research and development team that have executed a number of government contracts with the Department of Homeland Security and other major federal agencies.
James Saltzman, Dynasil’s chairman, stated, “This acquisition, if completed, should more than triple the size of Dynasil. Including this transaction, we should have a compound annual growth rate exceeding 100% since implementing our growth strategy three years ago.”
Craig T. Dunham, CEO and President, added, “We are excited about this opportunity. It represents the addition of significant, new capability sets to Dynasil and greatly expands our portfolio of medical and general instrumentation.”
Dunham continued, “With its advanced research capabilities, we expect that this R&D facility will enable us to obtain both Small Business Innovative Research (SBIR) and non-SBIR government funding to offset some of the cost of developing new, high technology products. The acquisition would be transformational for Dynasil in that it would move us from a predominantly component-based supply company to an instrumentation company with a considerable IP portfolio, extensive technology capability and significantly increased cash flow.”
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