Type | Subsidiary |
---|---|
Nasdaq: COHR | |
Industry | Industrial and fiber laser equipment |
Founded | 1966Palo Alto, California | in
Founder | James Hobart |
Headquarters | Santa Clara, California, U.S. |
Key people | Andreas W. Mattes, Chief Executive Officer |
Revenue | US$1.23 billion (2020) |
US$411 million (2020) | |
US$-414 million (2020) | |
Total assets | US$1.83 billion (2020) |
Total equity | US$927 million (2020) |
Number of employees | 4,875 (2020) |
Parent | II-VI Incorporated |
Subsidiaries |
|
Website | www |
Footnotes /references [1] |
Coherent, Inc., headquartered in Santa Clara, California is an American company that develops, manufactures and supports laser equipment and related specialty components. Coherent was founded in May 1966 by physicist James Hobart and five cofounders. It went public in 1970. Over time, Coherent acquired other laser businesses and expanded to lasers for different industries and applications. From 2004 to 2021, it grew from $400 million to almost $2 billion in revenues, in part through a series of acquisitions. In 2022, II-VI Incorporated acquired Coherent, Inc. and took the name Coherent Corp. [2] [3]
Coherent, Inc. was founded in May 1966 by six engineers in Palo Alto, California [4] [lower-alpha 1] under the name Coherent Radiation. [6] : 1 Coherent was initially funded by the founders with $10,000 from their personal savings. [4] [7] They released the first commercially available carbon dioxide laser that year. [7] [lower-alpha 2] The company made about $500,000 in sales its first year in operation, which grew to $6 million by 1970, after Coherent released its second generation product. [7]
The Rockefellers invested $250,000 in 1967 and other private investors put in an additional $250,000 the next year. [4] [7] Then, Coherent filed an initial public offering in 1970. [4] [7]
Over time, Coherent expanded into lasers for consumer, medical, scientific, industrial, and other applications. [4] [8] In 1981, Coherent acquired the scientific division of Germany-based Lambda Physik, a manufacturer of excimer lasers. [8] The following year, it acquired Germany-based Laser-Optronic GmbH and created a joint venture with Miyama and Co. in Japan. [8]
Coherent became the largest laser equipment and parts manufacturer in the world, but its operations were still unprofitable. [4] After founder James Hobart delegated management of the company, Coherent experienced numerous problems with defective products, delayed deliveries, and poor manufacturing efficiency. [4] As a result of these problems, Hobart returned to the CEO position in 1988. [4] He restructured the company and trained staff in manufacturing processes that were popularized in Japan, such as just-in-time manufacturing and continual improvement process. [4] As a result of these changes, Coherent's productivity improved 60 percent, while its costs decreased 58 percent. [4]
By the 1990s, medical lasers accounted for half of Coherent's revenues. [4] In the mid-1990s, Coherent acquired Applied Laser Systems, ATx Telecom Systems, Inc., Uniphase Corporation, and 80 percent of Tutcore Oy, LTD. These acquired businesses formed Coherent's new semiconductor division. [4] In July 1996, Bernard Couillaud was appointed chief executive officer and Hobart left the company the following year. [4] Coherent then acquired a Palomar subsidiary focused on medical applications in April 1999 called Star Medical Technologies, Inc. for $65 million. [4]
In 2003, Coherent acquired Lambda Physik, which created ultraviolet lasers used in annealing in manufacturing flat-panel televisions. [9] John Ambroseo became the CEO of Coherent in 2004. [9] During his tenure, Coherent made a series of acquisitions that grew the company from $400 million to almost $2 billion in annual revenues. [9] In 2006, Coherent acquired laser equipment manufacturer Excel Technology for $376 million. [9]
Coherent purchased the German-based pulse laser company Lumera in 2012 for $52 million. [10] Their lasers were primarily used in micromachining in industrial processes that use lasers to add very slight amounts of heat. [10] In 2015, Coherent purchased Raydiance, who made lasers used in automotive and medical manufacturing, for $9.3 million. [11] [lower-alpha 3] In early 2016, Coherent agreed to acquire the Germany-based materials processing competitor Rofin-Sinar for $942 million. [13] Three years later, Coherent acquired Germany-based O.R. Lasertechnologie, which produced lasers for additive manufacturing. [14]
Andreas W. Mattes was appointed CEO in April 2020. [9]
In July 2022, II-VI Incorporated completed the acquisition of Coherent Inc., with the combined company named Coherent Corp. [2]
Coherent provides laser-related equipment, components, and services [7] [8] [15] used for a range of industries and applications. [16] It operates numerous subsidiaries that focus on specific applications like engraving, drilling, or soldering. [8] It manufactures things like lenses, mirrors, diodes, laser measurement equipment, industrial lasers, and lasers used in research labs. [15]
The OSA Foundation and Coherent Inc. partnered in 2017 to offer the annual Bernard J. Couillaud Prize, [17] in honor of the former CEO of Coherent, who died in 2017. Couillaud, in collaboration with Nobel Prize Laureate Theodor W. Hänsch, developed the Hansch-Couillaud technique for laser frequency stabilization, [18] and was instrumental in the development of dye, diode-pumped solid-state lasers, and Ti-sapphire lasers in his roles at Coherent. The Couillaud Prize is awarded to early-career professionals pursuing ultrafast laser research with an emphasis on solving real-world problems. The prize is a merit award of $20,500 with up to $5,000 in travel expense reimbursement to attend OSA scientific conferences.
Gérard Albert Mourou is a French scientist and pioneer in the field of electrical engineering and lasers. He was awarded a Nobel Prize in Physics in 2018, along with Donna Strickland, for the invention of chirped pulse amplification, a technique later used to create ultrashort-pulse, very high-intensity (petawatt) laser pulses.
KLA Corporation is an American capital equipment company based in Milpitas, California. It supplies process control and yield management systems for the semiconductor industry and other related nanoelectronics industries. The company's products and services are intended for all phases of wafer, reticle, integrated circuit (IC) and packaging production, from research and development to final volume manufacturing.
Jenoptik AG is a Jena, Germany-based integrated photonics company. The company is listed on the Frankfurt Stock Exchange and is included in the TecDAX stock index.
Alcatel–Lucent S.A. was a multinational telecommunications equipment company, headquartered in Boulogne-Billancourt, France. It was formed in 2006 by the merger of France-based Alcatel and U.S.-based Lucent, the latter being a successor of AT&T's Western Electric and Bell Labs.
Johnson & Johnson Vision (JJV) is a subsidiary of Johnson & Johnson and is composed of two divisions, Johnson & Johnson Surgical Vision and Johnson & Johnson Vision Care. Services include Intraocular lenses, laser vision correction systems, phacoemulsification systems, viscoelastic, Microkeratomes and related products used in cataract and refractive surgery.
Ophir Optronics Solutions is a multinational company that sells optronics solutions. The company develops, manufactures and markets infrared (IR) optics and laser measurement equipment. Founded in 1976, the company was traded on the Tel Aviv Stock Exchange from 1991 until it was acquired, and was a constituent of its Tel-tech index. Headquartered in the Har Hotzvim industrial park in Jerusalem, Israel Ophir owns a 100,000-square-foot (9,300 m2) complex that includes the group's main production plant. Ophir has additional production plants in North Andover, Massachusetts and Logan, Utah in the US and sales offices in the US, Japan and Europe. In 2006, Ophir acquired Spiricon Group, a US-based company in the beam-profiling market. Ophir's sales increased sharply from $45 million in 2005 to $74 million in 2007. During 2007, Ophir established a Swiss-based subsidiary to market lenses and components for surveillance and imaging systems in Europe. In May 2010, Ophir acquired Photon Inc., another US-based beam-profiling company. Newport Corporation, a global supplier in photonics solutions, completed its acquisition of the Ophir company in October 2011. In 2016, metrology firm MKS Instruments bought Newport Corporation, including the Ophir brand, for $980 million.
The Max-Planck-Institute of Quantum Optics is a part of the Max Planck Society which operates 87 research facilities in Germany.
The US based company ROFIN-SINAR Technologies Inc. develops, manufactures and sells laser sources and laser-based solutions for industrial material processing. On 7 November 2016, the company was acquired by Coherent Inc.
Raydiance Inc., headquartered in Petaluma, California, was the maker of the world's first software-controlled ultrashort pulse (USP) laser. The company was established in 2003 by Jeff Bullington and Peter Delfyett in Orlando, Florida as Ablation Industries, Inc. In 2004, Ablation Industries changed its corporate name to Raydiance, Inc. and recruited Barry Schuler, former CEO of America Online (AOL), as its new CEO and chairman of the board. Raydiance, Inc. commercialized a fiber-based USP technology first developed in the laboratories at the University of Central Florida's College of Optics. This effort was funded by the Defense Advanced Research Projects Agency. Raydiance introduced its first product, a desktop-sized picosecond pulse laser, in 2007. Ultrashort pulse lasers, which generate pulses in the picosecond to femtosecond range, are being used for applications in the life sciences, micromachining, imaging and diagnostics, and defense sectors. The company ceased operations in July 2015. The assets of Raydiance Inc were acquired by Coherent Inc in August 2015.
Oclaro was a US-based business manufacturing and selling optical components. Oclaro was formerly listed on the London Stock Exchange and was a constituent of the FTSE 100 Index. The company is now part of Lumentum (LITE) after acquired in December 2018.
Veeco is a global capital equipment supplier, headquartered in the U.S., that designs and builds processing systems used in semiconductor and compound semiconductor manufacturing, data storage and scientific markets for applications such as advanced packaging, photonics, power electronics and display technologies.
Radiall is a company that designs, develops, and manufactures connectors and associated components for use in electronic applications. The company offers interconnect components, including radio frequency/coaxial connectors and cable assemblies, antennas, fiber optic connectors and cable assemblies, microwave components and cable assemblies, microwave switches, and multipin connectors. It serves the aerospace, defense, industrial, instrumentation, telecom, space and medical markets. The company markets its products worldwide through a network of agents and distributors.
MACOM Technology Solutions is a developer and producer of radio, microwave, and millimeter wave semiconductor devices and components. The company is headquartered in Lowell, Massachusetts, and in 2005 was Lowell's largest private employer. MACOM is certified to the ISO 9001 international quality standard and ISO 14001 environmental standard. The company has design centers and sales offices in North America, Europe, Asia and Australia.
Finisar Corporation is a manufacturer of optical communication components and subsystems.
Robert Alfano is an Italian-American experimental physicist. He is a Distinguished Professor of Science and Engineering at the City College and Graduate School of New York of the City University of New York, where he is also the founding Director of the Institute for Ultrafast Spectroscopy and Lasers (1982). He is a pioneer in the fields of Biomedical Imaging and Spectroscopy, Ultrafast lasers and optics, tunable lasers, semiconductor materials and devices, optical materials, biophysics, nonlinear optics and photonics; he has also worked extensively in nanotechnology and coherent backscattering. His discovery of the white-light supercontinuum laser is at the root of optical coherence tomography, which is breaking barriers in ophthalmology, cardiology, and oral cancer detection among other applications. He initiated the field known now as Optical Biopsy
M Squared Lasers is a company headquartered in Glasgow, Scotland with a subsidiary, M Squared Lasers Inc., based in San Jose, California. It was established in 2005 by Graeme Malcolm and Gareth Maker who had previously been directors of Microlase Limited and Coherent Scotland Limited.
Thorlabs, Inc. is an American privately held optical equipment company headquartered in Newton, New Jersey. The company was founded in 1989 by Alex Cable, who serves as its current president and CEO. As of 2018, Thorlabs has annual sales of approximately $500 million. Outside its multiple locations in the United States, the company has offices in Brazil, Canada, China, France, Germany, Japan, Sweden, and the United Kingdom. It sells approximately 20,000 different products.
NeoPhotonics Corporation is an American public corporation based in San Jose, California. It was founded in 1996. The company develops, manufactures and sells optoelectronic products that transmit, receive and switch high speed digital optical signals for communications networks, These products include transceivers, tunable lasers, high bandwidth receivers, optical semiconductors, photonic integrated circuits, and 100 gigabit per second and above modules." These are each "cost-effective components that handle massive amounts of data at very high speeds".
Inphi Corporation is an American company that produces 10G-800G high-speed analog and mixed-signal semiconductor components and optical subsystems to networking original equipment manufacturers (OEMs), optical module, cloud and telecom service providers. Its headquarters are located in Santa Clara, California. Inphi develops linear transimpedance amplifiers, modulator drivers, optical physical layer devices, coherent DSPs, and silicon photonic-based subsystems for long haul, metro, and data center applications. As of April 20, 2021, the company was acquired by Marvell Technology, Inc.
Coherent Corp. is an American manufacturer of optical materials and semiconductors. As of 2021, the company had 22,961 employees. Their stock is listed at the New York Stock Exchange under the ticker symbol COHR. In 2022, II-VI acquired laser manufacturer Coherent, Inc., and adopted its name.
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