SANTA CLARA -- Coherent, Inc. (Nasdaq: COHR - News) today announced that it has signed a definitive purchase agreement to acquire the assets of privately held Iolon, Inc. of San Jose, California in an all cash transaction of approximately $5 million. Prior to the asset sale, Iolon designed and manufactured optical components including widely tunable lasers and filters. Coherent intends to utilize the acquired technology in its core portfolio, especially for products in the instrumentation and display markets. The physical assets will be transferred to Coherent's existing Santa Clara facilities.

"In order to enable broader markets for photonics, it is essential that we further improve the robustness of our products, while reducing their size and cost," stated John Ambroseo, President and Chief Executive Officer of Coherent, Inc. "We believe that the technology and intellectual property that we have acquired from Iolon will assist us in achieving these objectives," Ambroseo added.

Coherent Inc.

Iolon Inc.