SANTA CLARA, CA and OAKLAND, NJ -- (MARKET WIRE) -- February 09, 2007 -- LumaSense Technologies, Inc., a leading provider of sensing solutions, and Mikron Infrared (NASDAQ: MIKR) today announced LumaSense Technologies will acquire Mikron Infrared, a leader in the field of infrared non-contact temperature measurement and thermal imaging since 1969. Mikron's board of directors has approved the transaction subject to receipt of regulatory approval.
LumaSense Tech Web Site
"Mikron is an exceptional company with very talented people and unique solutions that will significantly strengthen our position in sensor instrumentation for the industrial, medical and energy markets," said Vivek Joshi, CEO of LumaSense Technologies. "Mikron provides significant opportunities for synergies in research & development, manufacturing, and marketing & sales. We are excited about what this means for our current and future customers as we continue to complement and enhance our offerings through strategic acquisitions and organic growth."
Mikron is an innovative provider of infrared non-contact temperature solutions for the industrial, medical and energy markets. The company provides customers with a broad range of instruments with exceptional accuracy and capability, from lightweight, convenient, portable units to process and laboratory instruments, to sophisticated, computer compatible thermal imaging systems. Mikron is also in the forefront in the near and far infrared thermal imaging technology with systems that include high speed, high accuracy, high resolution Thermal Imaging for preventive and predictive maintenance as well as process and research applications.
Commenting on the acquisition, Gerry Posner, CEO of Mikron, said, "Becoming part of LumaSense is a great way forward for Mikron given our complementary offerings and services. We look forward to providing the market with leading edge solutions as we grow our business globally."
Houlihan Lokey Howard & Zukin acted as financial advisor to Mikron. Arent Fox LLP acted as legal advisor to the Company. Jones Day acted as legal advisor to LumaSense.
About LumaSense Technologies, Inc.
LumaSense Technologies is a global leader in providing quality sensor instrumentation to the industrial, medical and energy markets. LumaSense is an operating company with a strategy to acquire other leading sensor instrumentation companies serving similar customers with complementary technologies and products. LumaSense's first two acquisitions are industry pioneers with hundreds of global customers: Luxtron Corporation -- fiber optic temperature measurement sensors and Innova AirTech Instruments -- trace gas monitoring and analysis. LumaSense is backed by Oak Investment Partners, a leading multi-stage venture capital firm with a 28-year history.
Mikron Infrared, Inc., founded in 1969, is a leading, global provider of advanced non-contact temperature measurement products based on infrared technology. It offers a line of infrared temperature measurement instruments, thermal imaging systems, radiometers, spectrometers, and blackbody sources for the calibration of infrared thermometers. These products are used in industries such as steel, glass, semiconductor, chemical, power generation and medical for condition monitoring and preventative and predictable maintenance purposes. Mikron is headquartered in Oakland, New Jersey with manufacturing and sales facilities in the United States and Western Europe.
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SOURCE: LumaSense Technologies
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