Gardner optical firm acquires Maine imaging company for $7.8M
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Precision Optics in Gardner
Precision Optics Corp., Inc., a Gardner-based optical instrument manufacturer, announced its acquisition of Lighthouse Imaging, an optical imaging company located in Maine, in a Tuesday press release.
The acquisition will marry Precision Optics capabilities in micro-optics and optical systems with Lighthouse Imaging's cutting-edge optical imaging electronics and system integration, per the release.
Lighthouse Imaging was acquired for $2.85 million in cash along with 2.5 million shares of Precision Optics, which are currently trading at $1.96 per share on the OTC Markets Group.
The acquisition will merge the management teams of Lighthouse Imaging and Precision Optics.
Lighthouse Imaging was most recently owned by Anania & Associates Investment Company., a private equity firm focusing on Maine-based companies. Peter Anania, its president and chairman, will join Precision Optics' board of directors, according to the announcement.
Lighthouse Imaging's CEO Tom Snyder, Chief Commercial Officer Robert Austring, and Chief Technology Officer Benjamin Gray will stay onboard with the combined company.
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