American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Instagram Outage Disrupts Thousands of U.S. Users 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
OXFORD, Mass., May 23, 2017 -- 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 [email protected]
