Prima Industrie sells laser business unit to Lumibird
Convergent Photonics focused on the development and production of both industrial and medical diodes and laser sources.
Convergent Photonics has over fifty years of experience in the design and manufacture of semiconductor lasers and laser diode packaging, as well as the design and manufacture of high-power fiber lasers for the medical sector (urology, surgery, etc.). Eighty qualified and experienced people, divided between Italy and the USA, will join the Lumibird group. The Convergent activities had a turnover of 15 million euros in 2022 for a negative EBITDA of 1.5 million euros.
The sale of Convergent will allow Prima Industrie to increase its strategic focus on its core business, with the goal of further strengthening its leading positioning in the market of laser cutting and sheet metal processing machinery.
This transaction is in line with the growth strategy launched by Prima Industrie management, aimed at optimizing processes, increasing operational efficiency, as well as accelerating international growth and strengthening technological leadership.
Thanks to this acquisition, Lumibird, one of European leaders in laser technologies, will strengthen its strategic positioning in lasers and optoelectronics applications, with the goal of expanding into new market segments and increasing its ability to innovate.
The transaction is expected to be completed in the second half of 2023, subject to the approval from regulatory authorities in Italy and the United States.
Giovanni Negri, CEO of Prima Industrie, stated: “After many successful years in the laser sources business, Prima Industrie has decided to sell Convergent, in order to further focus on its core business, the development and production of laser cutting and sheet metal processing machinery and systems. We are pleased to sell Convergent to a player such as Lumibird, which will allow the company to further unlock its potential.”
Marc Le Flohic, Chairman and CEO of Lumibird, said: “This acquisition strengthens several of our technological pillars and is perfectly in line with Lumibird's strategy of verticalization and sovereignty. It allows us to vertically integrate critical semiconductor technologies, to strengthen our sovereignty over laser technologies in Europe, and to diversify into high growth markets.”
Further reading: Lumibird acquires Innoptics, wileyindustrynews.com, 30 September 2022 • Prima Industrie announces new CEO, wileyindustrynews.com, 23 December 2022
