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Photonics Industry M&A Activity

Premium Priced Strategic Acquisitions

Despite persistent financial and geopolitical risk, M&A activity for 2015 in the photonics industry and vertical markets employing photonics technologies as core differentiators continues to rise.  Having been through a long period of organic growth, strategic buyers turn to M&A to keep growing - creating more competition for financial buyers and improving valuations.

Middle market companies employing photonics to serve a wide breadth of markets, such as Display, Medical Imaging and Therapeutics, LED Lighting, and Sensor Networks (Internet of Things), are realizing high valuations.  So far this year and unlike last year, a handful of Asia and Europe based middle market companies realizing premium valuations from strategic buyers are driving-up average Enterprise Value/Revenues multiples.

Leading the pack are: Irico Display Devices Company, a supplier of LCD modules, OLED's and raw materials (62x); CellCura, a provider of imaging tools to track embryos through the in-vitro process (24x); Theraclion, a company offering high-intensity focused ultrasound therapy for non-invasive treatment of benign tumors (23x); San'an Optoelectronics, a supplier of LED epitaxial chips and high-power concentrating solar products (12x); and Accupix, a multimedia device company developing 3D video glasses and microdisplays (10x).

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Consolidation in a Global Marketplace

Photonics Industry

As M&A activity heats up, optics and photonics companies are increasingly looking across borders for a good strategic fit — and that creates both challenges and opportunities.

For a limited time, explore with Linda Smith of CERES Technology Advisors in The Optical Society of America's members only section of Optics and Photonics News.

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International Cost of Capital

Quantifying International Investment Risks

Understanding today's country-specific cost of capital alongside industry dynamics help business valuation professionals advise clients in making better international investing, financing, and buy/sell decisions.  

A business that is identical in every way except the country in that it operates is valued differently by a buyer or investor depending on where that business operates.  A buyer expects a higher return in exchange for higher risk when acquiring a company that operates in a country that has higher financial, economic and/or political risk. To value a cross-border transaction, country risk is mapped to a risk premium or discount that is added to the cost of capital relative to the cost of capital in the investor's country.

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M&A and Private Placement Transaction Database

Subscription Service for Strategic Buyers & Sellers

Whether you are buying, selling, or planning, access to relevant, current, and accurate information is critical.  CERES will offer a subscription service to its database of M&A and private placement transactions for target companies employing photonics technologies.

CERES transaction database is designed for strategic buyers and sellers.  It includes access to 4000+ M&A transactions, 5000+ private placement transactions, detailed target company descriptions, comprehensive deal comments, valuation multiples, and more.

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