Current Report · Form 8-K
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1: 8-K Dynasil Corporation of America Form 8-K 2 8K
2: EX-99 Press Release 2± 8K
EX-99 · Press Release
Contact:
Craig Dunham
Dynasil Corporation of America
Phone: (856) 767-4600
Email: cdunham@Dynasil.com
Dynasil Announces Agreement to Buy
Advanced Instrumentation Company
WEST BERLIN, N.J. December 20, 2007 Dynasil
Corporation of America (OTCBB: DYSL.OB), a photonics
company headquartered in New Jersey, announced today that
it has entered into a Letter of Intent to acquire a privately-
owned advanced instrumentation company. Terms of the
agreement were not disclosed. Dynasil Chairman, James
Saltzman states: "This acquisition, if completed, should more
than triple the size of Dynasil. Including this transaction, we
should have a compound annual growth rate exceeding 100%
since implementing our growth strategy three years ago."
Dynasil is currently an $11 million manufacturer of photonics
products including optical materials, components, coatings
and specialized sub-systems. It has business units in New
Jersey, Massachusetts and Upstate New York that
manufacture optical components and subassemblies for a
broad range of markets including display systems, optical
instruments, satellite communications and lighting. "We are
excited about this opportunity," remarked CEO and President,
Craig T. Dunham, "It represents the addition of significant,
new capability sets to Dynasil and greatly expands our
portfolio of medical and general instrumentation."
The company to be acquired has developed and manufactured
instruments with high growth potential, which are sold into
the medical, environmental sensing and quality assurance
markets. It also has a significant research and development
team performing a number of government contracts for the
Department of Homeland Security and other major federal
agencies. "With its advanced research capabilities, we expect
that this R&D facility will enable us to obtain both Small
Business Innovative Research (SBIR) and non-SBIR
government funding to offset some of the cost of developing
new, high technology products," Craig Dunham explained.
"The acquisition would be transformational for Dynasil in
that it would move us from a predominantly component-based
supply company to an instrumentation company with a
considerable IP portfolio, extensive technology capability and
significantly increased cash flow."
The Letter of Intent plans a Spring 2008 closing. Among
other things, the transaction is contingent on negotiation and
execution of definitive agreements, successful due diligence
and obtaining necessary financing. It also calls for
employment of the current principals to assist with a smooth
transition to Dynasil ownership.
Dynasil has acquired two other companies during the last
three years and has delivered significant performance
improvements at all three of its business units. Descriptions
of Dynasil's strategy and performance are contained in its 10-
KSB annual report which was released on December 20, 2007
and is available for viewing at www.Dynasil.com.
About Dynasil: Founded in 1960, Dynasil is a manufacturer
of photonic products including optical materials, components,
coatings and specialized sub-systems.
This news release may contain forward-looking statements
usually containing the words "believe," "expect," or similar
expressions. These statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform
Act. Future results of operations, projections, and
expectations, which may relate to this release, involve certain
risks and uncertainties that could cause actual results to differ
materially from the forward-looking statements. Factors that
would cause or contribute to such differences include, but are
not limited to, the factors detailed in the Company's Annual
Report or Form 10-KSB and in the Company's other
Securities and Exchange Commission filings, continuation of
existing market conditions and demand for our products.
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