Mergers & acquisitions

StockerYale Buys French Startup

SALEM, N.H. -- StockerYale, Inc., (NASDAQ: STKR), a leading independent provider of phase masks, specialty optical fiber, and specialized illumination products, today announced that it has signed a letter of intent for an undisclosed amount of stock and cash to acquire a majority owned interest in KLOE, S.A. of Montpellier, France. This acquisition will allow the company to design and fabricate integrated optical devices and circuits using KLOE's advanced proprietary sol-gel technology. Because this technology is inherently more efficient and cost effective, it is ideal for the mass production of optical devices used within the framework of fiber optic networks. KLOE's proprietary sol-gel technology promises the development of next generation multiplexing, demultiplexing, advanced micro-optics, and signal processing devices.

"Today's manufacturers of arrayed wave-guide gratings, (AWGs), and integrated optics are still unable to reap all of the benefits associated with their fabrication technology because of the complexities associated with their fabrication process," said Alain Beauregard, StockerYale's president & chief technology officer. "KLOE has developed a unique and efficient sol-gel technology allowing the fabrication of optical integrated circuits at very low costs compared to existing methods," added Beauregard. "The acquisition of KLOE compliments our continuing R&D initiatives to design best-in-class specialty optical fiber and related components," Beauregard continued.

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