Paris, France, and Fairfield, NJ,
USA, October 6, 2008--Sofradir,
a leading developer and manufacturer of advanced infrared
(IR) detectors for military, space and industrial
applications announced today that it will acquire
Electrophysics, a US developer of advanced high-performance
IR equipment. Sofradir expects to complete the transaction
within 30 days.
The acquisition is expected to accelerate
the development of Sofradir and its subsidiary ULIS
in the North American market. It will provide Sofradir
and ULIS
with a US platform to better serve the North American
IR detector and module market, estimated at USD 1
billion (approx. Eur 700 M), the largest in the world.
“This strategic foothold will
boost Sofradir and ULIS’s growth by bringing
us closer to customers in the US who will have ready
access to our advanced cooled and uncooled IR technologies,
known for their performance, reliability and producibility”
said Philippe Bensussan, chairman and CEO of Sofradir
and chairman of ULIS. “Having a US base of operations
will allow us to be more cost competitive and responsive
to our customers.”
Electrophysics’ president Frank
Vallese, who will continue to head the US operation
said: “We are delighted with this opportunity.
It will be a big plus to have Sofradir’s talent,
technology and expertise here on North American soil.
Sofradir has an exciting product development roadmap
and an established history of delivering high-quality
IR detectors. We foresee a wide range of market opportunities
in public safety, security and defense, supplying
both OEM’s and system integrators”.
Sofradir is a leading provider of
IR detectors. Together with ULIS, the company shipped
40,000 IR detectors, worldwide, this year. The purchase
of Electrophysics, founded in 1969, will help it ramp
up sales and enhance the service it provides to US
customers in the defense, space and commercial industries.
“By joining the experienced team of 35 at Electrophysics,
Sofradir is taking an important step forward to the
benefit of the customers of both companies,”
added Bensussan.
About Sofradir
Sofradir
develops and manufactures advanced infrared detectors
(IR) for military, space and commercial applications.
It specializes in cooled IR detectors based on a sophisticated
high performance technology, Mercury Cadmium Telluride
(MCT), and its vast product portfolio of scanning
and staring arrays covers the entire infrared spectrum.
Sofradir also offers QWIP detectors developed in cooperation
with Thales. Ulis, a subsidiary of Sofradir, designs
and manufactures low cost uncooled amorphous silicon
infrared detectors for commercial applications. Together
the companies generated revenues of USD 165 M (EUR
110 M) in 2007. Sofradir and Ulis directly export
more than 70 percent of their products. Customers
include the US Army, Thales, Sagem, Selex, Thales
Alenia Space, ESA (European Space Agency) and FLIR
Systems. Sofradir’s headquarters is located
in Chatenay-Malabry, near Paris, France. Its manufacturing
facilities and those of ULIS are located in Veurey-Voroize,
near Grenoble. Sofradir and Ulis employ 470 people.
About Electrophysics
Founded in 1969, Electrophysics designs
and manufactures infrared equipment for a wide range
of imaging applications including portable thermal
imagers
as well as night vision modules for low-light photography
and videography. The company sells to industrial,
scientific, law enforcement and US Department of Defense
customers. In addition, it develops image acquisition
and analysis software and a range of applicationspecific
accessories including optics. The company, located
in Fairfield, New Jersey, USA, has 35 employees and
annual revenues of USD 12 M (EUR 8 M).
