Electro Scientific Industries, Inc. Inc. the renowned provider of world-class photonic and laser micro-engineering systems, today announced here of its decision of agreeing over the acquirement of the New Wave Research, Incorporated or NWR and is headquartered in Fremont, Calif.. It has been averred in this regard, that entire amount of transaction has been set for $36 million net cash outlay, in the order of one times NWR's current annual revenue. It is to be noted in this respect that NWR, is a premier developer and manufacturer of high-end laser-based systems and components and by the means of its notable execution and the mode of accomplishing objective has been form the initiation been able to continue as a market leader in the specific industry of sapphire wafer scribing and laser micromachining.

ESI is a frontrunner and leading supplier of world-class production laser systems having the direction of aiding its microelectronics customers to attain compelling yield and productivity gains. From its commencement in 1944 the company's industry-leading, application-specific products has been engaged in concentrating and augmenting electronic-device performance in three key sectors like semiconductors, components and electronic interconnect. The aspiration has been to enable exactitude in fine-tuning of device microfeatures in high-volume manufacturing environments.

While being asked by the Press & Media over its decision over the agreement Nick Konidaris, the President and CEO of ESI said, "ESI's acquisition of NWR accelerates our mutual growth strategies by leveraging our combined core competencies into adjacent markets. NWR will give us entry into the sapphire wafer scribing market through their Accuscribe systems, as well as LCD repair with their Quicklaze suite of products. Together our strong research and development talent pool will provide us with centers of excellence in Portland, Montana, and Silicon Valley to help accelerate the development of new tools for both companies. In addition to these technical and market synergies we are excited about the expanded earnings potential and increased shareholder value this transaction provides."

From the discussions with the senior most echelon of the Electro Scientific Industries it has been revealed that the acquisition of NWR, being still dependent on the utter approval of its shareholders is expected to close within 30 days. In addition, Pei Hsien Fang will join up ESI in the designation of Vice President while reporting directly to Nick Konidaris who at present is in the charge of the New Wave Research Division. Pei Hsien Fang, the ongoing CEO and co-founder of New Wave Research when being asked to comment said, "ESI is a market-leading photonic solutions company with an impressive product line and a growing business. ESI will enhance our best-in-class products by providing advanced scientific, engineering, and system design capabilities. This alliance will also greatly benefit our customers by giving them access to a larger range of cutting-edge products in addition to an expanded support network. We are very excited by the incremental growth opportunities this merger provides."