MAY 5--GSI Lumonics Inc. (Billerica, MA; www.gsilumonics.com) has acquired the principal assets of the encoder division of Dynamics Research Corporation (Wilmington, MA). The product lines acquired with that division include optical encoders and have an annualized run rate of sales of approximately $6 million to $7 million. Optical encoders are a critical part of precision motion-control systems and are found in aerospace, automotive, medical-instrumentation, semiconductor-processing, and factory-automation applications, as well as motion-control subsystems.
The assets were acquired for US$3.3 million in cash, subject to adjustment, and the assumption of certain liabilities. The integration of the division into GSI Lumonics' Component Products Group is currently scheduled for completion by the end of August 2003.
