Hoya Acquires Performance Optics
Wednesday, October 12 2016 | 00 h 00 min | Agreements and Acquisitions, News
HOYA Corporation (“HOYA”) announced decision and execution of the definitive agreement to acquire Performance Optics, LLC (“Performance Optics”), including its subsidiaries VISION EASE and Daemyung Optical.
Ophthalmic eyewear lenses is the largest business unit in HOYA’s Life Care segment, which HOYA positions as a source of its continuing future growth. The acquisition of Performance Optics continues HOYA’s strategic initiatives in the Life Care segment.
This acquisition will strengthen HOYA’s ability to provide customers with a broader portfolio of leading products, while continuing to provide best-in-class services to the eyewear industry. The acquisition of Performance Optics expands HOYA’s customer reach, particularly through VISION EASE’s presence in the Americas and its strengths in polycarbonate products and technologies. Performance Optics provides HOYA with additional capabilities in polycarbonate, photochromic and
polarized lens technologies, as well as an expansion of our global footprint in high index lens casting to reinforce our position as a global technology leader in lens manufacturing. Importantly, we also will augment our global research & development capabilities, creating a new technology center of excellence.
Performance Optics is a global ophthalmic lens manufacturer specializing in polycarbonate, photochromic, polarized and high index eyeglass lenses, employing over 2,000 people around the world with manufacturing facilities in the United States, Korea, China, Thailand and Indonesia.
This acquisition is not expected to materially impact HOYA’s financial performance.
To read full press release, click HERE.