Ophir Shareholders Approve Transaction; Regulatory Approvals Received
Irvine, California September 8, 2011 Newport Corporation (NASDAQ: NEWP) and Ophir Optronics Ltd. (TASE: OPIR) today provided an update regarding the status of the acquisition of Ophir by Newport. The two companies reported that the shareholders of Ophir have approved the transaction and that all required regulatory approvals have been received. The acquisition is expected to close in early October 2011, subject to satisfaction of the remaining closing conditions, as set forth in the Merger Agreement. Robert J. Phillippy, Newports President and Chief Executive Officer, said, We are pleased that we are making excellent progress toward closing this transaction, and we are very excited to have Ophir join the Newport team.
Charles F. Cargile
About Newport Corporation
Newport Corporation is a leading global supplier of advanced-technology products and systems to customers in the scientific research, microelectronics manufacturing, aerospace and defense/security, life and health sciences and precision industrial manufacturing markets. Newport's innovative solutions leverage its expertise in high-power semiconductor, solid-state and ultrafast lasers, photonics instrumentation, sub-micron positioning systems, vibration isolation, optical subsystems and precision automation to enhance the capabilities and productivity of its customers' manufacturing, engineering and research applications. Newport is part of the Standard & Poor's SmallCap 600 Index and the Russell Microcap Index.
About Ophir Optronics
Ophir Optronics (http://www.ophiropt.com ) develops, manufactures and markets electro-optic systems, photonic instrumentation and 3D noncontact measurement systems. Ophir is a global company with six manufacturing facilities around the world, three in Israel and three in the U.S., with its worldwide sales and marketing network encompassing seven subsidiaries in Israel, the U.S., Japan, and Europe and more than 100 distributors and agents that are spread over more than 30 countries.