Important Notice: OSA will be performing scheduled maintenance on Friday (28 August) starting at 20:00 EDT (UTC -4) and ending Saturday (29 August 2015) at 0300 EDT (UTC -4). We apologize for any inconvenience this may cause. and thank you for your patience as we improve our services.

Industry News

GSI Group to Sell Continuum, Buy JADAK

Valerie Coffey

March 14, 2014—In its March 11 fourth-quarter earnings call, OEM component supplier GSI Group (Bedford, Mass., U.S.A.) announced it had signed a letter of intent to sell its line of scientific lasers, Continuum, for $7.5 million in cash to an unnamed buyer. Continuum provides high energy YAG lasers, dye lasers, diode-pumped and ultrafast systems, as well as optical parametric oscillators and amplifiers for scientific and industrial applications. GSI claimed Continuum, based in San Jose, Calif., saw a sharp slowdown in scientific laser sales in the closing quarter of 2013. Continuum’s scientific laser business reported sales of $25 million for fiscal year 2013, which was 7 percent of GSI’s total $341.6 million in revenue, which was estimated as neutral to the GSI Group’s adjusted EBITDA.

The company also announced during the call a February 18th agreement to acquire barcode scanning technology company JADAK, LLC (Syracuse, N.Y.) for $93.5 million in cash. JADAK also provides optical data collection and machine vision technologies, primarily to medical device manufacturers.  The acquisition of JADAK is expected to add roughly $40 million in revenue to GSI’s bottom line for the full year 2014.


Add a Comment