Spectroscopy Supplier Acquired

The deal is expected to close by the end of the year. Axsun will operate as a wholly owned subsidiary. Based in Boston, Massachusetts, Axsun has 85 employees. The Axsun Packaging Platform produces optical, opto-electronic and micro-mechanical subsystems based on MEMS technology. Axsun’s spectroscopy products include two NIR systems for process applications and a handheld NIR system.

San Diego, CA 12/23/08—Volcano, a publicly held medical device company, has agreed to acquire Axsun Technologies for $21.5 million in cash. Axsun develops and manufactures MEMS-based lasers and optical engines for optical coherence tomography (OCT) imaging systems, micro-optical spectrometers and optical channel monitors for pharmaceutical, chemical, petrochemical and telecommunication network applications. Axsun posted 2007 sales of more than $18 million. Volcano stated that the acquisition provides it with technology for the development of new OCT imaging systems. Volcano plans to maintain Axsun’s photonics products and measurement equipment business. “The industrial/communications segment of the business is run by a highly competent and experienced team within Axsun and we expect that it will continue to flourish and provide the overall organization with operational leverage,” stated Scott Huennekens, president and CEO of Volcano.

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