The LUMIBIRD Group, the European leader in laser technologies, signed on May 15 an agreement with the Italian company Prima Industrie to acquire its subsidiary Convergent Photonics (Turin, Italy) and the Convergent assets of Prima Industrie North America (Boston, USA). This acquisition gives Lumibird a strategic advantage in high power semiconductor and fibre lasers and opens up new markets.

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The parties expect the transaction to be completed in the second half of 2023, subject to regulatory approvals in Italy and the US.

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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.

Giovanni Negri, CEO of Prima Industrie commented: “After many years of being successfully active in the development and production of laser sources, Prima Industrie has decided to dispose of laser source business unit, Convergent, in order to focus on main business of sheet metal machinery and systems. We are pleased to sell it to a player such as Lumibird that will undoubtedly allow Convergent to express all its huge potential, based on a high level of technological know how”.

Read the full press release hereunder.