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CyberOptics to acquire 3D Metrology Company

27 January 2013 - CyberOptics announced it has entered into a definitive agreement to acquire the assets of Laser Design, Inc. (LDI), a 3D metrology company headquartered in Minneapolis. The approximately $3.0 million all-cash transaction is expected to close in February 2014, pending approval by LDI’s shareholders. LDI, which will be operated initially as a wholly-owned subsidiary, is forecasted to have a minimal impact on CyberOptics’ consolidated bottom line performance in 2014.

With revenues of approximately $6.0 million, LDI provides scanning systems and services to the estimated $825 million global 3D scanner and services metrology market. Serving a diverse range of industrial markets, LDI has established a Fortune 100 customer base, including such industry leaders as Schneider Electric, Samsung, HP, Toyota, Hyundai and General Dynamics.

Dr. Subodh Kulkarni, CyberOptics’ executive chairman, said, “The pending acquisition of LDI is part of a strategic repositioning of CyberOptics as a high-precision 3D sensor technology company. Global demand for 3D scanning is growing rapidly as this technology is deployed increasingly in markets ranging from automotive and aerospace to medical and consumer electronics. LDI has established a solid reputation in the 3D scanning marketplace and possesses a pipeline of promising new products. By expanding our reach into a new range of diverse markets, we believe LDI will strengthen CyberOptics long-term prospects.”

He continued: “The addition of LDI also will enable CyberOptics to leverage the 3D sensor technology that we are developing in-house. We intend to incorporate the new 3D sensor technology into future LDI products to strengthen their competitiveness in the growing 3D scanning market.”

C. Martin (Marty) Schuster, LDI’s president and chief executive officer, commented: “The opportunity to join CyberOptics will enable us to take optimum advantage of the 3D technology that we have been developing since 1987. Together, we believe we can reset the bar for metrology applications in a wide range of markets.”

www.cyberoptics.com/

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