Lumibird to acquire Prima Industrie’s high power laser and semiconductor businesses

The Lumibird Group has signed an agreement with Prima Industrie to acquire its subsidiary Convergent Photonicsand the Convergent assets of Prima Industrie North America.

The European laser specialist said the move will give it a strategic advantage in high-power semiconductor and fibre lasers, therefore, opening new market opportunities for its business.

A new step in the Lumibird Group's investment strategy, the acquisition will enable Lumibird to further strengthen its sovereignty in the field of lasers and optronics.

Marc Le Flohic, Chairman and CEO of Lumibird, adds that the acquisition allows the group to vertically integrate critical semiconductor technologies, to strengthen its sovereignty over laser technologies in Europe, and to diversify into high growth markets.

Convergent Photonics has over 50 years of experience in the design and manufacture of semiconductor lasers and laser diode packaging, as well as the design and manufacture of high-power fibre lasers for the medical sector (urology, surgery, etc.).

In 2022, the Convergent activities had a turnover of €15m for a negative EDITDA of €1.5m.

Giovanni Negri, CEO of Prima Industrie, added, "After many years of being successfully active in the development and production of laser sources, Prima Industrie has decided to dispose of the laser source business unit, Convergent, to focus on the main business of sheet metal machinery and systems."

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