News

Bozeman, Montana’s ILX Lightwave to be acquired by Newport

December 28, 2011 /

MATR Sponsor (view all)

Bear Paw Development Corporation is a private non-profit organization created for the purpose of administering programs to help improve regional economic conditions in Hill, Blaine, Liberty, Chouteau and Phillips Counties and the Fort Belknap and Rocky Boy's Indian Reservations.

Newport http://www.newport.com/ entered into a definitive agreement to acquire ILX Lightwave http://www.ilxlightwave.com/ . ILX, headquartered in Bozeman, Montana, expects 2011 revenues of approximately $8M.

The company is profitable, and Newport expects the acquisition to be accretive to its earnings immediately after closing. The consideration to be paid by Newport in the transaction is $9.3M in cash, subject to adjustment based on ILX’s net assets at closing. The transaction is expected to close in January 2012.

Full Story: http://finance.yahoo.com/news/newport-agrees-acquire-ilx-lightwave-193417810.html;_ylc=X3oDMTEwNTgxOTBhBF9TAzIwMjM4Mjc1MjQEZW1haWxJZAMxMzI1MTA3OTk2

***

Bozeman-based ILX Lightwave Corporation announced today that it will be sold to a California company.

ILX, which was founded in 1986, will be sold to Newport Corporation, an Irvine, Calif.-based company that supplies advanced-technology products to customers in the scientific research, aerospace and defense, microelectronics and industrial manufacturing markets.

ILX’s founder Larry Johnson said in a news release that joining Newport will provide ILX with new opportunities to increase revenues and enhance its products.

Full Story: http://www.bozemandailychronicle.com/news/economy/article_6e01dab0-319b-11e1-8439-0019bb2963f4.html