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BRIEF-Novanta increases stake in Laser Quantum to over 75 pct
January 10, 2017 / 10:14 PM / in 9 months

BRIEF-Novanta increases stake in Laser Quantum to over 75 pct

Jan 11 (Reuters) - Novanta Inc

* Novanta increases ownership in Laser Quantum to over 75 percent

* Novanta Inc says novanta acquires an additional 35 percent of outstanding shares of laser quantum for approximately £25.5 million

* Novanta Inc- total purchase price of £25.5 million was financed with cash on hand and borrowings under company’s amended and restated credit facility

* Novanta Inc says transaction is expected to be immediately accretive to novanta’s free cash flow and non-gaap earnings per share

* Novanta Inc says transaction expected to add approximately $25 million in revenue to novanta’s financial results on a full year pro forma basis Source text for Eikon: Further company coverage:

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