API Acquires Silicon Sensors

CAMARILLO, Calif. -- Advanced Photonix, Inc. has acquired privately owned detector manufacturer Silicon Sensors LLC (Dodgeville, Wisconsin) for a cash purchase price of $1.7 million. Silicon Sensors, which has been in operation for over 35 years, had revenues of $4.3 million for its last fiscal year ending September 30, 2001, and revenues of $2.5 million for the 10 months ending July 31, 2002. Silicon Sensors’ product line includes silicon PIN photodiodes, positioning sensing detectors, CdS and CdSe detectors, LEDs and hybrid assemblies based on these components. "The acquisition of Silicon Sensors will substantially increase API's manufacturing capacity and broaden our technical capabilities," states Brock Koren, Advanced Photonix Chief Executive Officer. "In addition, Silicon Sensors’ markets are very complementary to ours, so the acquisition will enable us to immediately expand our sales in cost sensitive commercial and industrial applications." Advanced Photonix Inc.