Sofradir to acquire IR vendor Electrophysics
OCTOBER 6, 2008--Sofradir (Paris, France; www.sofradir.com) has announced that it will acquire Electrophysics (Fairfield, NJ, USA; www.electrophysics.com), a U.S. developer of advanced high-performance IR equipment.
OCTOBER 6, 2008--Sofradir (Paris, France;www.sofradir.com), a developer and manufacturer of advanced infrared (IR) detectors for military, space, and industrial applications, has announced that it will acquire Electrophysics (Fairfield, NJ, USA; www.electrophysics.com), a U.S. developer of advanced high-performance IR equipment. Sofradir expects to complete the transaction within 30 days. The value of the transaction was not disclosed.
The acquisition is expected to accelerate the development of Sofradir and its subsidiaryULIS in the North American market. It will provide Sofradir and ULIS with a U.S. platform to better serve the North American IR detector and module market, estimated at US$1 billion (approximately EUR700 million). Together with ULIS, Sofradir shipped 40,000 IR detectors worldwide this year.
Philippe Bensussan, chairman and CEO of Sofradir and chairman of ULIS, says, "Having a U.S. base of operations will allow us to be more cost competitive and responsive to our customers."
Electrophysics president Frank Vallese, who will continue to head the U.S. operation, says, "We are delighted with this opportunity. It will be a big plus to have Sofradir's talent, technology, and expertise here on North American soil...We foresee a wide range of market opportunities in public safety, security, and defense, supplying both OEMs and system integrators."