Precision components maker Newport to buy Israel's Ophir Optronics for $230 mn

Precision components maker Newport Corp, today said it would buy Israeli group Ophir Optronics for $230 million, the latest in a series of acquisitions of Israeli firms by US companies.

Based in Jerusalem, with manufacturing facilities in Israel and the US, Ophir Optronics makes precision infrared optics, photonics instrumentation and three-dimensional (3D) non-contact measurement equipment.

has approximately 650 employees worldwide and

Approximately 48 per cent of the Tel Aviv-listed company's sales are from the US, and another 34 per cent from Israel and Europe. The remaining 18-per cent comes from customers in Asia.

The company had revenue of $111.8 million and operating income of $12.5 million last year.

For its first quarter ended 31 March 2011 Ophir reported revenue of $30.2 million and operating income of $3.9 million. Over the five year period from 2006 to 2010, Ophir's compound annual growth rate in revenue was approximately 19 per cent.