September 4, 2012 / 1:33 PM / 5 years ago

IPG Photonics to buy precision laser tool maker

Sept 4 (Reuters) - Specialized laser maker IPG Photonics Corp agreed to buy privately owned J.P. Sercel Associates for an undisclosed amount, adding precision laser products to its portfolio.

The Oxford, Massachusetts-based IPG said the deal will lower its 2012 profit by 1 to 2 cents per share and add about $4 million in revenue during the year.

IPG, which makes laser systems used for cutting, welding and engraving, said the deal will help it gain a stronger foothold in the $800 million precision laser market, IPG’s CEO Valentin Gapontsev said.

IPG expects the acquisition to add to its profit in 2013.

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