IPG Photonics Completes Acquisition of CleanLASER
Rhea-AI Summary
IPG Photonics (NASDAQ: IPGP) has completed the acquisition of Clean-Lasersysteme GmbH (cleanLASER), a German leader in laser cleaning systems with approximately $30 million in annual revenue and 2,000 systems installed worldwide. The acquisition strengthens IPG's position in high-precision laser cleaning applications by adding expertise, market exposure, and technology synergies. CleanLASER, founded in 1997 and based in Herzogenrath, serves customers across automotive, industrial, aerospace, medical, and food sectors.
Positive
- Acquisition adds $30 million in annual revenue to IPG's business
- Access to cleanLASER's installed base of 2,000 systems worldwide
- Expansion into new markets and applications
- Strategic enhancement of laser cleaning solutions portfolio
- Diversification across multiple industry sectors
Negative
- None.
News Market Reaction
On the day this news was published, IPGP declined 2.38%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Acquisition Accelerates IPG Entry Into Growing Laser Cleaning Solutions
MARLBOROUGH, Mass., Dec. 02, 2024 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ: IPGP) today announced that it has completed its acquisition of Clean-Lasersysteme GmbH (cleanLASER), a leader in laser cleaning systems. The purchase of cleanLaser strengthens IPG’s global position in high-precision laser systems for cleaning applications by bringing additional know-how, complementary market exposure, and product and technology synergies.
“The acquisition of cleanLaser aligns with IPG's strategic focus on expanding into promising new markets and applications. This move further differentiates our business by enhancing our ability to deliver comprehensive solutions that provide customers with cost-effective and environmentally sustainable alternatives to traditional industrial processes,” said Dr. Mark Gitin IPG Photonics’ Chief Executive Officer. “On behalf of the entire IPG team I want to welcome the cleanLaser team to IPG Photonics and look forward to working closely with them.”
Founded in 1997 and based in Herzogenrath, Germany, cleanLASER is a leader and pioneer in expanding the usage of lasers for industrial cleaning, with an installed base of approximately 2,000 systems worldwide and approximately
Contact
Eugene Fedotoff
Senior Director, Investor Relations
IPG Photonics Corporation
508-597-4713
efedotoff@ipgphotonics.com
About IPG Photonics Corporation
IPG Photonics Corporation is the leader in high-power fiber lasers and amplifiers used primarily in materials processing and other diverse applications. The Company’s mission is to develop innovative laser solutions making the world a better place. IPG accomplishes this mission by delivering superior performance, reliability and usability at a lower total cost of ownership compared with other types of lasers and non-laser tools, allowing end users to increase productivity and decrease costs. IPG is headquartered in Marlborough, Massachusetts and has more than 30 facilities worldwide. For more information, visit www.ipgphotonics.com.
FAQ
What is the annual revenue of cleanLASER acquired by IPG Photonics (IPGP)?
How many installed systems does cleanLASER have worldwide?
When was cleanLASER founded and where is it based?
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