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IPG PHOTONICS CORP
Symbol U : IPGP
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IPG Photonics Acquires Mobius Photonics to Accelerate UV Laser Development

2013-03-13 16:30 ET - News Release

Acquisition Broadens Opportunities in Fine Processing Markets


Company Website: http://www.ipgphotonics.com
OXFORD, Mass. -- (Business Wire)

IPG Photonics Corporation (NASDAQ: IPGP) today announced the acquisition of privately held Mountain View, California-based Mobius Photonics to accelerate its entry into the UV laser market and deepen IPG’s development team. Mobius provides high-power pulsed UV fiber lasers for micromachining, such as dicing and scribing of wafers, and VIA drilling and solar hybrid panel processing.

“The acquisition of Mobius Photonics will augment our current development efforts in UV fiber lasers to quickly penetrate the UV laser market, which we believe could be a significant sales driver for IPG in the coming years. Mobius has deep expertise in UV lasers, a strong patent portfolio and proprietary techniques relating to UV lasers,” said Dr. Valentin Gapontsev, IPG Photonics' Chief Executive Officer. “The market has been waiting for a cost-effective, reliable and stable UV fiber laser. Now that we can combine Mobius’ UV laser expertise experience with IPG’s low-cost, proprietary fiber, pump diode and component technologies, we believe that we can effectively build a presence in the fine processing market.”

“This combination will enable us to leverage IPG’s industry-leading fiber laser technology to advance Mobius’ UV technology and provide our customers with low-cost advanced UV fiber lasers,” said Dr. Robert Byer, Mobius' Co-Founder and Chairman. “We are proud of the accomplishments of our talented team and look forward to the many opportunities resulting from this transaction.”

Kiyomi Monro, Mobius' CEO added, “I am pleased that the Mobius team will join IPG, a company clearly committed to investing in technology and the people behind it.”

In the acquisition, IPG acquired an exclusive license of U.S. Patent No. 5,745,284, an early and broad patent claiming pulsed fiber lasers with frequency conversion into UV light, as well as other Mobius patents, licenses and trade secrets.

The employees from Mobius will become part of the IPG Silicon Valley Technology Center. Mobius had revenue from operations of approximately $1.4 million for 2012.

About IPG Photonics Corporation

IPG Photonics Corporation is the world leader in high-power fiber lasers and amplifiers. Founded in 1990, IPG pioneered the development and commercialization of optical fiber-based lasers for use in diverse applications, primarily materials processing. Fiber lasers have revolutionized the industry by delivering superior performance, reliability and usability at a lower total cost of ownership compared with conventional lasers, allowing end users to increase productivity and decrease operating costs. IPG has its headquarters in Oxford, Massachusetts, and has additional plants and offices throughout the world. For more information, please visit www.ipgphotonics.com.

Safe Harbor Statement

Information and statements provided by the Company and its employees, including statements in this press release, that relate to future plans, events or performance are forward-looking statements. These statements involve risks and uncertainties. Any statements in this press release that are not statements of historical fact are forward-looking statements, including, but not limited to, that the acquisition will augment IPG's current development efforts, that IPG will quickly penetrate the UV laser market, that the Company will combine Mobius’ UV laser expertise experience with IPG’s low-cost, proprietary fiber, pump diode and component technologies, and that IPG can effectively build a presence in the fine processing market. Factors that could cause actual results to differ materially include risks and uncertainties, including risks associated with integration of acquisitions, the strength or weakness of the business conditions in industries and geographic markets that the Company serves, particularly the effect of economic downturns; reduction in customer capital expenditures; potential order cancellations and push-outs and financial and credit market issues; the Company’s ability to penetrate new applications for fiber lasers and increase market share; the rate of acceptance and penetration of IPG’s products; effective management of growth; level of fixed costs from its vertical integration; intellectual property infringement claims and litigation; interruption in supply of key components, including from transportation disruptions from natural and man-made events; manufacturing risks; inventory write-downs; foreign currency fluctuations; competitive factors, including declining average selling prices; building and expanding field service and support operations; uncertainties pertaining to customer orders; demand for products and services; development of markets for the Company's products and services; and other risks identified in the Company's SEC filings. Readers are encouraged to refer to the risk factors described in the Company's Annual Report on Form 10-K (filed with the SEC on February 28, 2013) and its periodic reports filed with the SEC, as applicable. Actual results, events and performance may differ materially. Readers are cautioned not to rely on the forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update the forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Contacts:

IPG Photonics Corporation
Tim Mammen, 508-373-1100
Chief Financial Officer
or
Sharon Merrill
David Calusdian, 617-542-5300
Executive Vice President

Source: IPG Photonics Corporation

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