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Follow on Google News | Precision Photonics Corporation Acquired By IDEX CorporationIDEX Corporation has acquired Precision Photonics Corporation for $20 million. The acquisition further solidifies IDEX's desire to consolidate the photonics industry.
By: Precision Photonics Coporation IDEX Corporation is well known for providing fluid and metering technologies to some of the most recognized brands in the industry. IDEX also engineers fire & safety equipment as well as technologies in the medical, drug discovery and clinical diagnostics health & science field. With Precision Photonic's (http://www.precisionphotonics.com) On April 11th, 2012, IDEX officially announced that they have finalized the decision to purchase Precision Photonics for $20 million. The acquisition is no surprise to those in the industry after IDEX's buy-out of CVI Melles Griot last year and statements from Mike Cumbo, president of IDEX's optics and photonics business unit, on the company wanting to consolidate the photonics business and wanting to achieve 50% of its growth through acquisitions. End
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