GSI Lumonics purchasing MicroE Systems for $55 million

GSI Lumonics Inc. recently agreed to buy MicroE Systems Corp. for $55 million in cash. GSI manufactures laser-based manufacturing systems, and is headquartered in Ottawa, Canada. MicroE designs and manufactures position encoders used in data storage, semiconductors and electronics, industrial automation, and medical equipment. The firm had about $7.65 million in revenues for the quarter that ended on April 4, 2004. The two companies report that their products and technologies are complementary.

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