The merger of the two businesses creates a powerful new global supplier of high power lasers and laser arrays for the $3.5Bn global market place.
The New Company
The new company, called Intense, will retain its head office in the UK and will operate two complementary centres of excellence.
The UK business, based in Glasgow, will continue to focus on the development and production of laser array products for the global print and imaging markets. The US business in North Brunswick, NJ, called Intense – HPD, will focus on the development and production of high power laser products for the industrial, defence and medical markets. The two businesses will be supported by one global sales and marketing team operating out of the UK and US.
Scott Christie, CEO of Intense, stated, “I am delighted that we have been able to bring together two highly complementary businesses to take advantage of the significant opportunity in the rapidly evolving and consolidating semiconductor laser sector. We have a unique technology platform, modern manufacturing facilities and a team renowned for its expertise in design and efficient production. These strengths leave us well placed to meet the needs of our global customer base, our employees and our shareholders alike.”
Tom Moritz, co-founder of High Power Devices Inc., and Head of US Operations for the combined group, said, “We are delighted to be joining forces with Intense. The combined business has an internationally acclaimed research and development team headed by Prof John Marsh which is able to offer highly customized products to a wide range of customers. That strength, combined with our production capability on both sides of the Atlantic, leaves us in a prime position to meet our customers’ needs and to be a major competitive force in the semiconductor laser market.”
Innovative Laser Technologies
The strength in the new company’s product portfolio is based on bringing together Intense’s Quantum Well Intermixing (QWI) and HPD’s Asymmetric Waveguide (AW) technologies, delivering world beating laser power, brightness and reliability. These combined technologies and related processes are patented and provide the foundations for the success of the business.
The deal was financed through a combination of equity and debt. Equity finance was provided by Intense’s existing investors, including 3i, Esprit Capital Partners, FNI and Alice. Intense is delighted that Scottish Enterprise’s newly created Scottish Venture Fund (SVF) was also a lead investor in the deal alongside 3i.
Debt funding for the deal was provided by Noble and Co in the UK and Silicon Valley Bank in the US.
Intense Ltd. is headquartered in Glasgow, Scotland, now employs 140 people globally and has leading design, development, and production facilities in Glasgow, UK, and North Brunswick, NJ, USA. Major institutional shareholders in Intense Ltd. include 3i, Esprit Capital Partners, FNI, Alice and Scottish Enterprise through the Scottish Venture Fund (SVF) and the Co-Investment Fund.
Intense Ltd is a leading provider of single and multimode monolithic laser array products and high power laser diodes. The company’s patented innovations in Quantum Well Intermixing (QWI) and Asymmetric Waveguides (AW) generate exceptional laser power, brightness, and reliability. This, combined with state-of-the-art, high volume manufacturing facilities, delivers unsurpassed product reliability and value to customers in the print and imaging, defense, industrial, display, and medical markets.
The Intense QWI technology and related processes were developed by world-renowned Professor John Marsh, Founder and CTO of Intense, and President-Elect of the IEEE Lasers and Electro Optics Society.
For further information on the group and its products visit http://www.intenseco.com.
28 February 2007