Newport Corporation Completes V-Gen Acquisition

Irvine-based Newport Corporation said it has completed its previously announced acquisition of Israeli laser manufacturer V-Gen Ltd.. Financial terms of the buy have not been announced. Newport Corporation said it expects the acquisition to generate sales of $15M to $20M in the next twelve months. V-Gen is a developer of fiber lasers, and is headquartered in Tel Aviv, Israel. The company has approximately 50 employees worldwide, according to Newport Corporation. The deal had originally been announced in July.