July 28, 2014 | The Israeli company V-Gen, a developer and manufacturer of fiber lasers was acquired by US company Newport Corporation for an undisclosed amount. V-Gen is expected to have sales in the range of $15-20 million within the first twelve months after the transaction closes. The terms of the deal are set to close in the third financial quarter. According to Newport Corp. Senior VP and General Manager of Spectra-Physics Lasers Group David Allen, “”V-Gen has a strong track record of growth and profitability and we expect the acquisition to be accretive to our earnings immediately following the closing. We welcome the V-Gen team to Newport and look forward to their positive contributions to our Spectra-Physics Lasers Group.” V-Gen was founded in 1998 and is the leading supplier of pulsed fiber lasers with over 50 employees worldwide.