$LASE 250117 12.50C$ Acquisition to provide entry into the m...

Sean Parker commented on a stock · Oct 31, 2024 20:25

Acquisition to provide entry into the medical and pharmaceutical laser markets

ORLANDO, Fla., October 31, 2024--(BUSINESS WIRE)--Laser Photonics Corporation (LPC) (NASDAQ: LASE), a leading global developer of industrial laser systems for cleaning and other material processing applications, today announced it signed a definitive agreement to acquire Control Micro Systems, Inc. (CMS) through an asset purchase agreement (APA). The acquisition is expected to provide an opportunity for Laser Photonics to strategically broaden its market reach, engineering talent and technology portfolio. Terms of the deal were not disclosed.

Wayne Tupuola, CEO of Laser Photonics, commented:

"This acquisition will enable LPC to expand into the massive, growing pharmaceutical and medical manufacturing vertical, a recession-resistant sector with significant barriers to entry, while diversifying our business and providing us with a significant new market opportunity. CMS has worked with world-class pharmaceutical companies, delivering solutions that meet the industry's most stringent standards for both enabling controlled-release tablets and traceability of medications and packaging for compliance."

"We believe CMS is under-valued due to its lack of investment in sales and marketing over the past few years that will benefit from leveraging LPC’s existing sales and marketing infrastructure. LPC plans to unlock additional value through targeted marketing and customer engagement."

"In addition to focusing on expanded sales and marketing, we plan to hire all CMS’ existing workforce, including engineers and customer support personnel, who we believe will add significant value to our company. Upon closing the transaction, LPC is committed to ensuring a seamless transition for ALL existing CMS employees. Current CMS customers can also expect uninterrupted service and support during this transition."

Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more

Translate

Report

10K Views

Comment

Sean Parker

I love trading and don't mind helping if you have reasonable questions. I don't give buy/sell advice, only ideas to help

479

Followers

Following

2194

Visitors