IPG Photonics of Oxford acquires optical networks firm for $20M
![IPG Photonics Corp. of Oxford has acquired Padtec, a submarine optical networks operation. [T&G File Photo]](/gcdn/authoring/2019/01/22/NTEG/ghows-WT-801207cc-b218-0719-e053-0100007f1a38-9e616945.jpeg?width=660&height=430&fit=crop&format=pjpg&auto=webp)
OXFORD — IPG Photonics Corp. has acquired the submarine optical networks operation of a Brazilian company.
IPG did not disclose the size of the deal in an announcement Tuesday. But a news release last week from Padtec SA of Sao Paulo said it agreed to sell the division to IPG for 75 million Brazilian Real. That equals about $20 million.
The deal is expected to close in the first quarter of 2019, IPG said.
The Brazilian division has about 30 employees. IPG said the deal is not expected to have a material impact on its financial results this year.
IPG makes high powered lasers and amplifiers. Padtec makes optical communications systems and is shifting its focus away from undersea networks.
Ekaterina Golovchenko, IPG vice president of telecommunications systems, said in a news release that combining Padtec’s technologies with IPG’s systems would “enable us to effectively compete for a growing number of undersea cable network deployments around the world.”