Coherent Buys StockerYale Assets

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October 15, 2009 (FinancialWire) -- Coherent, Inc. (NASDAQ: COHR) said it has acquired the North American operations of StockerYale, Inc. (OTCBB: STKR) in an asset purchase for $15 million dollars in cash.

The company acquired all the assets and certain operating liabilities of StockerYale's laser module product line in Montreal, Canada and its specialty fiber product line in Salem, New Hampshire.

Coherent CEO John Ambroseo said, "In acquiring these two product lines, we gain access to the machine vision market and expand our bioinstrumentation opportunities through the laser diode module business."

He said that Coherent also adds core fiber technology, which Ambroseo said will improve Coherent's time to market and enhance both the performance and reliability of its fiber-based product platforms.

Santa Clara, California-based Coherent provides photonics based solutions to the commercial and scientific research markets.

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