Business

<< Previous   of   Next >>   ADVERTISEMENT   CONTACT THE HERALD Mike Benbow, Business Editor benbow@heraldnet.com   Published: Tuesday, July 29, 2008 Bothell-based firm agrees to purchase by Lockheed By Eric Fetters Herald Writer BOTHELL -- Aculight Corp., a developer of laser technology for defense and medical uses, has agreed to be bought by Lockheed Martin Corp. Terms of the acquisition were not disclosed by either side. A spokesman for Lockheed Martin, based in Bethesda, Md., said it does not intend big changes at Aculight's headquarters in Bothell. "No layoffs are contemplated as a result of this transaction," said spokesman Jeff Adams. "The thought is to keep everything there in Bothell." Don Rich, Aculight's chief executive, plans to remain. He said the deal is a good opportunity for the small company. "We bring some things to Lockheed Martin, and they obviously can bring some things to us," he said, adding that the larger company's ownership could help Aculight grow its business faster. Founded in 1993, privately held Aculight employs about 90 people. In contrast, Lockheed Martin has about 140,000 employees around the globe and racked up sales last year of nearly $42 billion. Once the acquisition is final, probably by the end of September, Aculight will report to Lockheed Martin's Maritime Systems and Sensors division. Known for its research work with laser technology, Aculight has, in recent years, focused more on turning its ideas into real-world products. The company's first commercial laser came out just two years ago, and product sales are growing. Last year, the company moved into new headquarters in Bothell's Canyon Park Business Center. Lockheed Martin is especially interested in Aculight's expertise in countermeasures, laser radar and other defense applications, but Aculight's research into medical lasers also is scheduled to continue, Rich said. Reporter Eric Fetters: 425-339-3453 or fetters@heraldnet.com.

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