WEST BERLIN, N.J.--(BUSINESS WIRE)--March 9, 2005--Dynasil
Corporation of America (OTCBB: DYSL), fabricator of optical blanks from
synthetic fused silica, fused quartz, and other optical materials for
the semi-conductor, laser, space and optical components industries is
pleased to announce that it has completed the purchase of Optometrics
LLC of Ayer, Massachusetts.
Optometrics is a worldwide supplier of quality optical components
including diffraction gratings, lenses, thin film filters, laser
optics, monochromators, and specialized optical systems and software.
The previous owners of Optometrics LLC, Ms. Laura Lunardo and Mr.
Frank Denton, signed two year, renewable employment contracts and will
continue to actively lead the Optometrics business which will now be
Optometrics Corporation. Additionally, Ms. Lunardo is now Dynasil's
CFO. The anticipated revenues for the combined companies are expected
to exceed $6 million. $700,000 of equity in the form of Dynasil
convertible preferred stock was raised from existing and new
shareholders to finance the acquisition in addition to bank financing.
Dynasil has been a long term supplier to Optometrics and glass is
a key raw material for Optometrics' products. Mr. Craig Dunham,
Dynasil President and CEO, had the following comments on the
acquisition: "I believe that Optometrics is an excellent addition to
Dynasil with Optometrics' record of profitable growth, strong people,
and optical customers/markets that fit well with Dynasil. The year is
off to a good start with strong orders in both companies. The
combination of the two companies is expected to lead to increased
profitability for both companies. We look forward to acquiring similar
strong companies with growth opportunities and synergy with our
current businesses."
Mr. Frank Denton, CEO of Optometrics commented that "We believe
that Dynasil and Optometrics have complementary strengths which should
auger well for the future and that the sum is much greater than the
individual parts."
About Dynasil: Founded in 1960, Dynasil Corporation of America is
a fabricator of optical blanks from synthetic fused silica, fused
quartz and other optical materials.
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.
