Subsequent Events

9 Months Ended

Oct. 02, 2015

Subsequent Events [Abstract]

Subsequent Events

15. Subsequent Events

On November 3, 2015, the Company entered into an agreement to acquire Lincoln Laser Company, a Phoenix, Arizona-based provider of ultrafast precision polygon scanners and other optical scanning solutions for the medical, food processing, and advanced industrial markets. The initial purchase price is $11 million in cash, subject to customary working capital adjustments. The transaction is expected to close in November 2015. Lincoln Laser Company specializes in ultrafast scanning, leveraging their expertise in polygon motor design and electro-optic subsystems. The acquisition creates an expanded range of highly competitive beam delivery technologies that significantly enhances the Company’s value proposition with OEM customers in growth applications. The Lincoln Laser business will be integrated into the Company’s beam delivery business line, which is part of the Company’s Laser Products segment.