MARLBOROUGH, Mass., Oct. 29, 2024 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ: IPGP) today announced that it has signed a definitive agreement to acquire Clean-Lasersysteme GmbH (cleanLASER), a leader in laser cleaning systems. The transaction strengthens IPG’s global position in high-precision laser systems for cleaning applications, an attractive growth market. Subject to satisfaction of customary closing conditions, including regulatory approval, the transaction is expected to close in the fourth quarter of 2024. The Company will provide more details on the transaction on its upcoming third-quarter earnings call, scheduled today for 10:00 a.m. ET.

“This transaction will advance IPG’s capabilities in bringing lasers to industrial cleaning applications, serving as a great example of how we are continuing to differentiate our product offerings through new laser use cases and complete solutions that drive laser adoption and keep us ahead of the competition,” said Dr. Mark Gitin IPG Photonics’ Chief Executive Officer. “As a supplier to cleanLASER for nearly 25 years, we know this company well and believe our combined cleaning application know-how, complementary market exposure, and product and technology synergies will create value for customers.”

Founded in 1997 and based in Herzogenrath, Germany, cleanLASER is a leader and pioneer in expanding the usage of lasers for industrial cleaning, with an installed base of approximately 2,000 systems worldwide and approximately $30 million in annual revenue. The company serves a broad range of customers across the automotive, industrial, aerospace, medical, food, and other markets. Laser cleaning systems have emerged as a precise, cost-effective, and environmentally friendly alternative to traditional industrial cleaning solutions, offering a highly energy-efficient process that requires no cleaning media and significantly reduces process waste.

About IPG Photonics Corporation

IPG Photonics Corporation is the leader in high-power fiber lasers and amplifiers used primarily in materials processing and other diverse applications. The Company’s mission is to develop innovative laser solutions making the world a better place. IPG accomplishes this mission by delivering superior performance, reliability and usability at a lower total cost of ownership compared with other types of lasers and non-laser tools, allowing end users to increase productivity and decrease costs. IPG is headquartered in Marlborough, Massachusetts and has more than 30 facilities worldwide. For more information, visit www.ipgphotonics.com.

Contact

Eugene Fedotoff
Senior Director, Investor Relations
IPG Photonics Corporation
508-597-4713
efedotoff@ipgphotonics.com