Oxford, Mass.-based IPG Photonics (NASDAQ:IPGP) bought itself a rival photonics company on the other side of the country today. Mountain View, Calif.-based Mobius Photonics makes high-power pulsed UV fiber lasers used in micromachining silicon wafers, via drilling to create a connection between two layers of a semiconductor, and processing solar hybrid panels.
IPG says it's buying the company in part "to accelerate its entry into the UV laser market," which IPG thinks "could be a significant sales driver for IPG in the coming years." IPG believes that in conjunction with its own technology, it will be able to advance the market for low-cost UV fiber lasers.
That being said, the deal won't have any immediate beneficial effect on IPG's finances. While the purchase price it's paying wasn't disclosed in today's announcement, Mobius' revenues in 2012 were a mere $1.4 million -- about 0.2% of IPG's sales that year.
Shares of IPG gained 0.7% in Tuesday trading, closing at $62.68 ahead of the announcement.