deals, M&A, lasers

GSI’s $360M Purchase Sets Laser Firms on Coherent Path

Erik Mellgren 7/10/08

Billerica, MA-based GSI Group (NASDAQ: GSIG) announced today that it will buy Excel Technology, (NASDAQ: XLTC) of East Setauket, NY, for $360 million in cash. Both companies produce lasers and laser systems and have operations in numerous locations around the world.

Erik Mellgren is a Swedish journalist who worked for Xconomy Boston in 2008 as part of the Stanford Innovation Journalism Fellowship program. His real job is with Ny Teknik, a leading technology and innovation magazine in Sweden, but he loved seeing the Red Sox at Fenway.